[Sweden] EG acquires Edlevo and HR & Payroll from Tieto

The Sweden-based software and digital engineering company Tieto has agreed to sell two software businesses from its Tieto Indtech division to EG, Fintech Global reports.

EG, an industry-specific software provider, is active across the Nordics

The transaction covers both Edlevo - a learning administration software provider to pre-schools and schools in Sweden and Finland - and HR & Payroll, a specialist provider of HR and payroll software serving public sector organisations in Sweden, including central government bodies, universities and municipalities.

The cash and debt-free purchase price, representing enterprise value, has reportedly been set at €95m, subject to standard closing adjustments. The deal is expected to be completed during the second quarter of 2026. 

Tieto says it intends to direct the proceeds towards debt reduction and/or capital distributions to shareholders.

Endre Rangnes - Tieto CEO - said, “We are pleased to have reached this agreement with EG. As a Nordic company focused on industry-specific software products, we are confident that EG will be a good new home for the units to be divested.

“As the units have been operating with great degree of independency within Tieto Indtech, we trust the transition will be smooth and successful for all stakeholders. With this divestment, Tieto Indtech is gaining a more focused portfolio, supporting its growth ambitions.”

Mikkel Bardram - EG CEO - said, “We are happy to welcome Tieto’s Edlevo and HR & Payroll customers and employees to EG. The acquisitions mark an important expansion for us into the Swedish education and public HR & Payroll markets, as well as the Finnish education market.

“As a Nordic software company, we understand the unique requirements of public sector customers and are committed to developing these solutions with continued focus on digital sovereignty, local expertise and strong innovation based on AI.”

Source: Fintech Global

(Quotes via original reporting)

The Sweden-based software and digital engineering company Tieto has agreed to sell two software businesses from its Tieto Indtech division to EG, Fintech Global reports.

EG, an industry-specific software provider, is active across the Nordics

The transaction covers both Edlevo - a learning administration software provider to pre-schools and schools in Sweden and Finland - and HR & Payroll, a specialist provider of HR and payroll software serving public sector organisations in Sweden, including central government bodies, universities and municipalities.

The cash and debt-free purchase price, representing enterprise value, has reportedly been set at €95m, subject to standard closing adjustments. The deal is expected to be completed during the second quarter of 2026. 

Tieto says it intends to direct the proceeds towards debt reduction and/or capital distributions to shareholders.

Endre Rangnes - Tieto CEO - said, “We are pleased to have reached this agreement with EG. As a Nordic company focused on industry-specific software products, we are confident that EG will be a good new home for the units to be divested.

“As the units have been operating with great degree of independency within Tieto Indtech, we trust the transition will be smooth and successful for all stakeholders. With this divestment, Tieto Indtech is gaining a more focused portfolio, supporting its growth ambitions.”

Mikkel Bardram - EG CEO - said, “We are happy to welcome Tieto’s Edlevo and HR & Payroll customers and employees to EG. The acquisitions mark an important expansion for us into the Swedish education and public HR & Payroll markets, as well as the Finnish education market.

“As a Nordic software company, we understand the unique requirements of public sector customers and are committed to developing these solutions with continued focus on digital sovereignty, local expertise and strong innovation based on AI.”

Source: Fintech Global

(Quotes via original reporting)