Tietokeskus and Enfo to join forces – this creates Finland's largest domestic IT service provider

Press release 31 October 2024

IT service providers Tietokeskus and Enfo join forces, when Tietokeskus acquires all shares of Enfo. The companies create Finland's largest domestic IT service provider, with 800 experts across Finland and a combined revenue of 200 million euros. The deal unites the companies complementing service offerings, customer segments and broadens the services available for customers.

Tietokeskus Finland Oy and Enfo Oy are joining forces through the acquisition. Both companies operate across Finland, with a total of 17 offices. The importance of being present locally where customers are, is something that the companies will hold on to also in the future.

"This is excellent news for our customers and employees. Together, we will be a more comprehensive partner and can offer industry's most extensive expertise for our customers' IT needs," says Janne Lipiäinen, CEO of Tietokeskus.

Together, Tietokeskus and Enfo serve companies of various sizes as well as public sector organizations. The acquisition will have no effect to existing customer relationships.

"The market is consolidating, and our customers' needs are constantly evolving. We want to stay one step ahead and develop our services to meet these needs. Together, we can also respond more effectively to our customers' expectations, for example, in terms of sustainability requirements and cybersecurity," Lipiäinen continues.

"Enfo's strong story will continue together with Tietokeskus. We will form a significant player in Finland's IT market. We secure the continuity of customers' business operations with evolving IT services. For employees, this offers more diverse internal career paths and opportunities for professional skill building," says Nina Annila, EVP IT Services at Enfo.

The acquisition is subject to Finnish Competition and Consumer Authority approval

Tietokeskus will acquire Enfo's entire share capital. As part of the transaction, Enfo's current majority owner, KPY Group, will become a minority owner in Tietokeskus with approximately ten percent stake. Epical, the consulting business will remain under KPY's ownership. Vaaka Partners will continue as Tietokeskus majority owner. The parties have agreed that the transaction value will not be disclosed.

The share purchase agreement was signed on Tuesday, October 29, 2024. The acquisition will now proceed to the Finnish Competition and Consumer Authority’s review, which is expected to take no more than one month.

Tietokeskus is a strong expert in ICT infrastructure services. Tietokeskus offers IT services and equipment to businesses and public sector organizations. Tietokeskus has approximately 500 employees in 14 office locations in Finland. Tietokeskus´ estimated turnover for 2024 is around EUR 150 million.
www.tietokeskus.fi

Enfo provides IT services essential for customers’ business and ensures the operational capability and continuity of customers business. Enfo has 300 employees, in three office locations in Finland. Enfo´s estimated turnover for 2024 is around EUR 45 million.
www.enfo.fi