RIGA – Nordic IT corporation Tieto announced June 15 the acquisition of a 51.6 percent stake in the Riga-based Konts company, which specializes in credit card processing software. Finland-based Tieto's decision to purchase this type of Latvian software company marks a concerted effort to establish a presence on the Eastern European market.Tieto's planned future strategy is "knowledge synergy" with Konts, which has five clients in Russia, according to Tieto Executive Vice President Veli Pohjolainen."[The acquisition] reflects confidence in the Latvian IT sector's professionalism," Pohjolain...
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