Tieto Corporation INSIDE INFORMATION 11 May 2026 7:00 p.m. EEST
As disclosed in connection with Tieto's interim report for the first quarter of 2026, Tieto filed a request for arbitration with the Finland Arbitration Institute against JS BidCo Oyj, a company owned by Agilitas, in relation to a breach of the sale and purchase agreement ("SPA") primarily concerning Tietoevry Tech Services' Closing Statement. Tieto claims a payment of approximately EUR 10 million, mainly based on the Closing Statement mechanism, in accordance with the SPA.
JS BidCo Oyj has now filed its response and has in connection therewith presented a counterclaim amounting to approximately EUR 110 million. Tieto considers the counterclaim to be without merit and not aligned with the SPA. The buyer's counterclaim is primarily based on post-closing events and an attempt to manipulate the Closing Statement mechanism against the principles agreed in the SPA. Tieto is confident in the merits of its own claim and will continue to pursue them in the arbitration. The arbitration process is expected to take approximately one year.
Tommi Järvenpää, Head of Investor Relations, Tieto, tel. +358 40 576 0288, tommi.jarvenpaa(at)tieto.com
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Tieto is a leading software and digital engineering services company with global market reach and capabilities. We provide customers across different industries with mission-critical solutions through our specialized software businesses Tieto Caretech, Tieto Banktech and Tieto Indtech as well as Tieto Tech Consulting business. Our around 14 000 talented vertical software, design, cloud and AI experts are dedicated to empowering our customers to succeed and innovate with latest technology.
Tieto's annual revenue is approximately EUR 2 billion. The company's shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tieto.com