20 October 2017

Tieto pulls out of Russian JV

08 April 2011  |  3703 views  |  0 Source: Tieto

Tieto Corporation and I-Teco have agreed to pull out of their plans to establish a joint venture company in Russia. The plans were announced in September 2010.

Tieto and I-Teco have together re-evaluated the situation and conclude that in the current market environment the benefits from a joint venture would be smaller than initially estimated. The companies will, however, continue their cooperation in the data centre field in Russia. It has earlier been announced that Tieto already has a data centre in I-Teco premises in Moscow.

The Russian IT market has grown significantly during 2010, and also Tieto's sales in Russia have grown during the past year. This growth has been achieved in several industry and service segments including projects related to the data centre services. With its existing data centre in Moscow, Tieto provides latest IT services in the market to its customers on the Russian market. The data centre is equipped with newest technology that makes it possible to offer, for example, cloud and SaaS (Software as a Service) services.

"We continue to see good growth potential in Russia, and to capture our share of this growth we continue to localize our offerings in Russia. We will develop our IT services and product portfolios to meet local needs even better. In addition, our customers will have access to innovative, high-quality data-centre related services such as capacity-on-demand, secure cloud computing and Software as a Service from our existing data centers," says Wim Huisman, Executive Vice President, Central Europe & Russia, Tieto Corporation.


Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nl visit www.niceactimize.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
16072 views comments | 12 tweets | 4 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8287 views comments | 13 tweets | 10 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
7872 views comments | 21 tweets | 26 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7296 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6632 views comments | 10 tweets | 21 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job