Emric works in the field called Fintech, ie financial technology. They develop software for credit management in Scandinavia. The company has 200 employees that come with the takeover. The CEO of Emric Pedram Tadayon says to Computer Sweden that the company had many stakeholders, but it eventually became Tieto they sold to depend on a number of factors.
– It’s a good match. This is partly about price but it is also about strategy – an owner should want to invest in us. Tieto is major in banking and finance, and the complementary parts of our business that is loan processing, lending and leasing.
– Since they have the resources and the geographical spread, which can help us grow.
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Emric has offices in Stockholm, Kalix and Belgrade. According Pedram Tadayon continuing operations in Kalix and Belgrade, as usual, while they will discuss how the operations in Stockholm will be integrated.
With the acquisition would TietoEnator to strengthen its position as partner for business innovation in the banking and financial sector, and they also want to expand their business in software.
Head of Sweden Per Johanson says that Tieto will expand within financial services.
– the acquisition further strengthens our software-driven business in the banking and finance sector in the Nordic countries and Europe. With our offering, we can now support the banking and finance customers throughout the value chain.
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for this pay Tieto 300 million in cash. But in addition, the parties agreed on a model based on Emric’s performance in 2017 and 2018.
Emric had sales of SEK 185 million last year. Approximately 65 percent of sales came from Sweden and the remainder from Finland, Norway, Denmark, Iceland and other European countries.
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