National Post (Latest Edition)

TIETOEVRY SELLS SOFTWARE BUSINESS TO CANADA’S AUCERNA

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Finnish informatio­n technology company Tietoevry said on Monday it has agreed to sell its oil and gas software business to Canada’s Aucerna for us$188 million. The price correspond­s to 3.2 times the revenue of the operations that are sold, and the deal comprises 420 employees in over 50 countries, Tietoevry said in a statement. The buyer, Calgary-based Aucerna, is an affiliate of Quorum, a u.s.-based software company in the energy industry. The acquisitio­n of software solutions in hydrocarbo­n management will strengthen Quorum’s portfolio to help energy companies with digitaliza­tion, said Tietoevry CEO Kimmo Aikio. “I truly believe that this combinatio­n will open up exciting career opportunit­ies for employees as part of the larger community of the oil and gas industry and software experts,” Aikio said.

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