Tieto CorporationINSIDE INFORMATION 11 May 2026 7:00 p.m. EEST
As disclosed in connection with Tieto's interim report for the first quarter of
2026, Tieto filed a request for arbitration with the Finland Arbitration
Institute against JS BidCo Oyj, a company owned by Agilitas, in relation to a
breach of the sale and purchase agreement ("SPA") primarily concerning Tietoevry
Tech Services' Closing Statement. Tieto claims a payment of approximately EUR 10
million, mainly based on the Closing Statement mechanism, in accordance with the
SPA.
JS BidCo Oyj has now filed its response and has in connection therewith
presented a counterclaim amounting to approximately EUR 110 million. Tieto
considers the counterclaim to be without merit and not aligned with the SPA. The
buyer's counterclaim is primarily based on post-closing events and an attempt to
manipulate the Closing Statement mechanism against the principles agreed in the
SPA. Tieto is confident in the merits of its own claim and will continue to
pursue them in the arbitration. The arbitration process is expected to take
approximately one year.
For further information, please contact:
Tommi Järvenpää, Head of Investor Relations, Tieto, tel. +358 40 576 0288,
tommi.jarvenpaa(at)tieto.com
DISTRIBUTION
NASDAQ Helsinki
NASDAQ Stockholm
Oslo Børs
Principal Media
Tieto is a leading software and digital engineering services company with global
market reach and capabilities. We provide customers across different industries
with mission-critical solutions through our specialized software businesses
Tieto Caretech, Tieto Banktech and Tieto Indtech as well as Tieto Tech
Consulting business. Our around 14 000 talented vertical software, design, cloud
and AI experts are dedicated to empowering our customers to succeed and innovate
with latest technology.
Tieto's annual revenue is approximately EUR 2 billion. The company's shares are
listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo
Børs. www.tieto.com