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TietoEnator acquires Fortuna Technologies
Hyderabad, Sep 17 (UNI) Finland-based Tieto Enator Corporation has acquired Hyderabad based-Fortuna Technologies India Private Limited in an all-cash definitive agreement.
The transaction, planned to be closed today, would see acquisition of Fortuna Technologies' 100 per cent shares for USDollar 29 million, a company release said today.
The
release
quoted
TietoEnator
Telecom
and
Media
President
Ari
Vanhanen
as
saying,
''the
combined
efforts
of
TietoEnator
and
Fortuna
will
make
us
even
stronger
in
our
verticals.
Fortuna
gives
us
an
excellent
platform
for
future
growth
in
India
and
other
parts
of
Asia.
The
deal
is
a
strategic
addition
to
our
global
delivery
model.''
Fortuna
Technologies
Founder
and
President
T
C
Ashok
said
''together
with
TietoEnator,
we
will
now
have
a
world
leading
portfolio
of
services
and
software
solutions.''
UNI
