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November 25, 1987

TIETOTEHDAS OF FINLAND BUYS CONTROL OF SWEDEN’s MODS DATEMA

By CBR Staff Writer

The colonisation by Finland of Swedish industry, up to now primarily the province of Nokia Oy, has taken another step, and this time the baton holder is Tietotehdas Oy, described as Finland’s leading computer services company. Tietotehdas has taken a controlling 54.6% of the equity and 74.1% of the votes of Swedish software house Mods Datama AB. The combination creates a group with 2,180 employees and annual turnover equivalent to about $210m, putting it in the front rank of European software companies. Tietotehdas shares are quoted in Helsinki and Mods Datema over the counter in Stockholm.

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