Business transactions

In January, Tieto signed an agreement with Siemens to acquire part of Siemens Convergence Creators Network Directory Server (NDS), IP Multimedia Systems (IMS), Home Location Register (HLR) and Radio Access (RA) businesses. The transaction will strengthen Tieto Product Development Services (PDS) portfolio in the voice and IP transformation area.

As part of the acquisition, approximately 220 employees were transferred to Tieto. Based on the acquisition, new business related to a significant customer will also be transferred to Tieto PDS. The final transition to Tieto took place on 1 April 2014.

In the first quarter, Tieto divested its PKI security solutions business in Denmark. The annual sales of the divested business amounted to around EUR 2 million.

In December, Tieto acquired all the shares in FD Finanssidata, joint venture previously owned by OP-Pohjola, Ilmarinen and Tieto. In connection with the acquisition, approximately 50 employees were transferred to Tieto. The arrangement does not have any material impact on Tieto's Group results.