Saab and TietoEnator have agreed that Saab acquires TietoEnator's
holding in AerotechTelub, for SEK 1 100 million.
"AerotechTelub has a strong market position and the services offered are
important parts of our core businesses. Saab is already the majority
owner but by taking the step to make the company a fully owned
subsidiary we increase our possibilities of creating further co-
operation and synergies within the Saab Group", says Bengt Halse,
President and CEO of Saab AB.
"The parts of AerotechTelub's activities that demand an independent role
will remain", Bengt Halse continues.
"TietoEnator focuses strongly on bank and finance, telecommunication and
media, the public sector as well as the forestry and energy sectors. The
sale of the defence-oriented activities within AerotechTelub is a
natural step in this focus. We are pleased to see that the company will
now have a majority owner that has the defence sector as one of its core
businesses. We are convinced that this change in ownership will
contribute to a positive development for AerotechTelub", says Åke Plyhm,
deputy CEO of TietoEnator Corporation.
AerotechTelub was formed in 1999 through a merger of Celsius Aerotech
and parts of TietoEnator. Since the formation, the ownership has been
Saab (previously Celsius) 57 percent and TietoEnator 43 percent. When
the agreement on the merger of Celsius Aerotech and parts of TietoEnator
was drawn up, a special option agreement was also signed, giving the
then Celsius, now Saab, the right to acquire TietoEnator's holding of 43
The transfer requires approval from the Swedish Competition Authority.
AerotechTelub is a service company which offers qualified technical
services and customer-adapted system solutions within information
technology, electronics and aviation technology for the military and
civil defence, government departments and public authorities as well as
selected sectors of trade and industry.
AerotechTelub has 2,600 employees and a turnover of ca SEK 2,4 billion.
Saab is one of the world's leading high-technology companies, with its
main operations focusing on defence, aviation and space. The group
covers a broad spectrum of competence and capability in systems
With a staff of 10,000 and annual net sales of 1.1 billion euros,
TietoEnator is a leading supplier of high value-added IT services in
Europe. TietoEnator provides consulting, systems development and
integration, operation and support, product development services for
customers, and software services. The Group has in-depth knowledge of
its customers' businesses in areas such as telecommunications, finance,
the public sector and the forest and energy industries.
For further information, please contact:
Jan Nygren, Phone: +46 13 181999
Group Senior Vice President, Saab AB
Bertil Ullergren, Phone: +46 47 422 42
Director of Communications, AerotechTelub +46 706 21 10 28
Anders Stålhammar, Phone: +46 13 18 71 75
Press Secretary, Saab AB
Åke Plyhm, Phone: +46 8 632 1410
deputy CEO, TietoEnator.
Eric Österberg, Phone: +46 8 632 14 26
Corporate Communications, TietoEnator. +46 70 590 0599
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