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Published: 09:30 03.07.2006 GMT+3 /HUGIN /Source: TietoEnator Oyj /HEX: TIE /ISIN: FI0009000277
TietoEnator takes over telecom R&D competence from Siemens - final transactions on 1 July, 2006
TietoEnator Corporation Stock Exchange Release 3 July 2006, 9.30 am EET
The agreement between Siemens Communications R&D and TietoEnator announced on March 21, 2006 was completed on July 1, 2006 (http://www.tietoenator.com/default.asp?path=1;96;135&hid=1040453" class="hugin">TietoEnator and Siemens to expand their cooperation in R&D services in Germany). The two companies deepen their cooperation when Siemens transfers TDM switching and migration to next generation networks to TietoEnator. The transition means that 250 employees from Siemens Communications R&D, most of them in Munich, Germany, will be transferred to TietoEnator Telecom & Media.
Siemens will buy services from TietoEnator for approximately five years. TietoEnator expects that the effect on its net sales is about EUR 15 million in the second half of 2006 and the commitment for the whole contract period approximately EUR 100 million.
TietoEnator's Telecom & Media business area employs close to 5 000 professionals in 14 countries. Its broad service portfolio covers R&D services, consulting, IT system development and integration for the full telecom and media value chain. The company operates as a partner to its global customers, assisting them in the development of their products and business processes.
For further information, please contact:
Ari Vanhanen, President, TietoEnator Telecom & Media, +358 500 432830
Jürgen Hatzipantelis, Senior Vice President, TietoEnator Telecom & Media, +49 6196 9329 0
TIETOENATOR CORPORATION
DISTRIBUTION
Helsinki Stock Exchange
Stockholmsbörsen
Principal Media
TietoEnator is among the leading architects in building a more efficient information society and one of the largest IT services providers in Europe. TietoEnator specializes in consulting, developing and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and the latest information technology. TietoEnator has over 15 000 experts in more than 25 countries.
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