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Tieto to acquire part of Siemens Convergence Creators’ telecom R&D


Wednesday, 15 Jan 2014 02:00am EST 

Tieto Oyj:Signs an agreement with Siemens to acquire part of Siemens Convergence Creators’ Network Directory Server (NDS), IP Multimedia Systems (IMS), Home Location Register (HLR) and Radio Access (RA) businesses.Says the transaction will strengthen Tieto Product Development Services’ (PDS) portfolio in voice and IP transformation area.Says about 220 employees who are working in four countries (Austria, Croatia, Czech Republic and Slovakia) and five locations will transfer to Tieto subsidiaries to be established as existing employees.Expects final transition of the businesses to Tieto to take place by Apr. 1.Financial details were ot disclosed. 

Company Quote

21.79
-0.56 -2.51%
11:29am EST