Helsinki, Finland and Stockholm, Sweden (PRWEB) November 2, 2005
Tieturi Oy, Finland's largest IT training provider and Informator AB, a leading training provider in Sweden, today announced that Tieturi Oy has purchased all shares of Informator AB. With an annual turnover of 19 million euros, the consolidated company becomes the largest IT training provider in the Nordic countries and over double the size of its nearest competitor.
Tieturi and Informator will continue their operations under their own brands and with their current personnel. The joint management of the companies will be located in Finland. The value of the acquisition was not disclosed.
The agreement is part of Tieturi's growth strategy in Finland and the Nordic-Baltic region. The deal is a milestone in the Finnish IT training business, further strengthening Tieturi's leadership in a highly competitive market.
"The merger will bring significant benefits for our operations in both Finland and Sweden. Both Tieturi and Informator have a growing number of customers who need training services in several Nordic countries, yet wish to minimise the amount of training partners. Our goal is to realize at least $2 million worth of new Nordic training projects over the next 18 months. The agreement also supports the expansion of our business beyond Finland and Sweden," said Mr. Veikko Kanerva, Chairman, Tieturi Oy.
Tieturi and Informator will develop their joint service offering by sharing skills and best practices. Informator will gain access to Tieturi's experience in process and project management training, seminar concepts, and the Information Technology Infrastructure Library (ITIL), a tool for developing expertise in IT services delivery. Tieturi will bring to Finland Informator's market-leading Competence Management and Help Desk service offerings. The companies will also benefit from collaboration in other areas such as Microsoft training.
"Our unified training offerings will bring clear value to our Nordic customers. For example, Tieturi training vouchers can now be used for Informator's courses. The merger will make it easier and more cost-effective for our customers to plan and manage their IT training. We believe that this broader and deeper service offering will lead to a growing market share in both Sweden and Finland," said Mr. Anders Ferm, CEO, Informator AB.
The combined revenue of IT training companies in Finland and Sweden is approximately 120 million euros. The market grew throughout the 1990s, until demand fell rapidly in 2001. The decrease in demand was approximately 60 to 70 percent in Sweden, and approximately 30 percent in Finland. Since 2004, the market has been growing again, with an expected annual growth rate of 5 to 10 percent over the next few years.
In addition to Informator, Sweden has four IT training companies of a similar size, with revenues between five and nine million euros. Informator's yearly revenue is 7.5 million euros. Tieturi is the market leader in Finland with annual revenue of 12 million euros, approximately three times larger than the closest competitor.
Veikko Kanerva, Chairman, Tieturi Oy, tel. +358 500 413 883
Anders Ferm, CEO, Informator AB, tel. +46 8 587 116 10
Christina Forsgård, Netprofile Finland, tel. +358 9 6812 080 or +358 40 571 9192
Tieturi Oy is the leading supplier of IT, technology and project management training in Finland. The company supports its customers by developing their IT expertise and helping them increase their productivity. Research company Taloustutkimus has nominated the expertise of Tieturi’s training staff and the reliability of the company’s training as the best in the Finnish IT sector (IT-Feedback, December 2004). Tieturi’s major clients include Nokia, TietoEnator, WM-Data, Fujitsu Services, The Social Insurance Institution of Finland , Elisa, TeliaSonera and OKO-Bank. The company employs approximately 100 people at training centers in Helsinki, Tampere and Turku, and at Tallinn-based subsidiary EskoNET AS. More information: http://www.tieturi.fi
Informator Utbildning Svenska AB is a leading Swedish training provider in IT and project management. Informator trains both service providers and end users. The company employs 40 people, in addition to drawing upon the expertise of nearly 300 freelance training professionals. Informator's largest customers include Ericsson, Volvo, Telia, WM-Data and ABB. Informator has training centres in Stockholm and Göteborg. More information: http://www.informator.se.