Abaris has a strong position in the Swedish, Finnish and Norwegian markets, with operations in Stockholm, Gavle, Helsinki and Oslo. The acquisition represents a key step for TietoEnator to implement its growth strategy and become the Nordic market leader in the capital markets solutions area.
Abaris’ main customers include Nordea, OKO Bank, Skandia, and First Securities. The company offers software solutions for the capital markets within the areas of securities trading, fund management and private banking. About 25% of all the transactions on the Nordic stock exchanges are processed through Abaris’ solutions.
The market demand for IT support within securities processing is strongly increasing. Together with TietoEnator we will have a greater potential to fulfill our existing and new clients’ needs with our systems and solutions, commented Erik Tobieson, deputy chairman and representative for the main owners of Abaris.
