Nordic Business Report-January 4, 2007-TietoEnator Corporation acquires Swedish company Abaris (C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com Finnish-Swedish IT group TietoEnator Corporation said on Thursday (4 January) that it has acquired the entire share capital of the Swedish company Abaris, a specialist in securities processing solutions. TietoEnator said that the acquisition is a key step for the company to implement its strategy and become the Nordic market leader in the capital markets solutions area. Abaris has a strong position in the Swedish as well as the Finnish and Norwegian market. It has approximately 86 employees and operations in Stockholm, Gavle, Helsinki and Oslo. The main customers of Abaris include Nordea, OKO Bank, Skandia, Nordnet Securities, Ohman, Glitnir and First Securities. Its net sales in 2007 are expected to amount to EUR10m. The acquisition price was not disclosed. TietoEnator is one of Europes largest IT groups with over 15,000 employees in more than 25 countries. The company is listed on the Nordic Exchange in Helsinki and Stockholm. One British pound (GBP) is worth approximately 1.49 euros (EUR). ((Comments on this story may be sent to [email protected]))