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