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On October 31, 2024, it was announced that Tietokeskus, majority-owned by Vaaka Partners, will acquire Enfo from KPY Group.
Together, Tietokeskus and Enfo will create Finland's largest domestic IT service provider with 800 experts across Finland and a combined revenue of 200 million euros. The new combined business will continue to serve and grow its business across both private companies as well as public sector organizations.
As part of the transaction, Enfo's current majority owner, KPY Group, will become a minority owner in Tietokeskus by acquiring an approximately ten percent stake. Epical, Enfo’s former consulting business branch, will remain under KPY's ownership. Vaaka Partners will continue as the majority owner in Tietokeskus.
EY and EY-Parthenon provided Financial, Tax, Technology, HR, and Transaction Law support to Tietokeskus during the transaction process. The customary due diligence services were as such complemented with a wider operational evaluation of Enfo by EY’s multi-discipline advisory teams and EY Law also supported the Tietokeskus and Vaaka teams in all transaction negotiations.
The transaction is subject to customary conditions, including the approval of the competition authority.
More informaton can be found on Vaaka Partners' press release.
Below you can find a selection of EY's recent deal alerts and you can also find a more extensive list on our Strategy and Transactions page.