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Specht Bohm Advises Tieto in Acquisition of Siemens Convergence Creators’ Telecom R&D

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Specht Bohm has represented the Nordic Tieto IT service company in its acquisition of Siemens Convergance Creators' telecom research and development division.

The transaction will involve the transfer of 220 employees to Tieto’s subsidiaries in Vienna, Zagreb, Brno, Bratislava, and Zilina. The transaction is expected to strengthen Tieto's portfolio, while allowing Siemens to focus more on its core businesses.

The final transition to Tieto is expected to have occurred by April 1st, 2014.

 

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