Nordic IT leader buys into Latvian market

  • 2005-08-31
  • Baltic News Service
TietoEnator, the largest IT services company in the Nordic countries, has signed an agreement to purchase a 51-percent stake in IT Alise, an industry leader in Latvia, with an option to buy the remaining shares, the company said in its press release. The deal, worth some 2.4 million euros, could be completed this month if given the green light by Latvian regulators. "IT Alise has reached a stage in its development where we need a partner who would support our international growth," Chairman Elmars Gengers said. "IT Alise and TietoEnator are united by a common strategy based on similar marke...
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