business post German sale
Nordic IT services vendor TietoEnator has agreed to a management
buy-out of its reinsurance and leasing business in Germany.
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The operation, based in Hamburg, has about 20 employees and
recorded sales of approximately €3m in 2006.
Following the MBO, it will continue to provide services around
the Proris reinsurance software system and Trigonis simulation tool
for leasing companies.
This is the fourth divestment announced by TietoEnator so far
this year. Most recently, the company sold a Swedish business unit
providing application management services to customers in the
retail and logistics industries.
It has also disposed of two SAP practices in Germany and its
stake in a library systems operation.
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By GlobalData
