Finnish-Swedish TietoEnator Acquires Telenor Business Consulting in Norway

Telecom&Mobility news

Helsinki, 10 March, 2006 — Finnish-Swedish TietoEnator Acquires Telenor Business Consulting in Norway

TietoEnator acquires Telenor Business Consulting, a business unit with 40 employees in the Norwegian telecom company Telenor. The acquisition means that TietoEnator strengthens its presence in Norway in the telecom area by broadening the customer and skills base.

Telenor Business Consulting is market leading in the areas of business development, project management and bid management in the Norwegian telecom sector. Through the acquisition TietoEnator will be able to provide Norwegian telecom customers with a broad range of services in application development, systems transformation, application management and system integration.

Telenor Business Consulting had net sales in 2005 of 7.5 MEUR and the operating margin (EBIT) was in line with the operating margin of the TietoEnator Group.

The aim is to conclude the transaction and transfer the employees to TietoEnator during March 2006. The agreement is subject to a final approval by TietoEnator's Board of Directors. The acquisition is also subject to an approval by the Norwegian competition authority.

For further information, please contact:
Ari Vanhanen, President
TietoEnator Telecom & Media
+358 500 432 830

Ulf Hammarberg, Vice President
TietoEnator Telecom Operators
+46 7036 37060

Arild S. Johannessen, Communications Manager
Telenor
+47 48 19 19 21