Tietoevry Corporation has announced it will acquire OpenSpring and GrupoOnetec, two Spanish technology consulting firms, as part of its plan to expand in Europe. The agreement was signed with AFI Family Espana and aims to strengthen Tietoevry’s presence in Spain, particularly for its Banktech and Caretech software solutions.
OpenSpring and GrupoOnetec employ nearly 200 people across Spain and Portugal. Their customer base includes financial institutions and insurance companies. Combined, the two companies generate approximately EUR 10 million in annual revenue.
Endre Rangnes, CEO of Tieto, said: “We see strong growth opportunities in Iberia, especially for Tieto Banktech and Tieto Caretech. Their proven software platforms and data-driven solutions, widely used in the Nordics, can deliver significant benefits to organizations in Iberia. To maximize value for our customers, we are expanding our vertical software businesses alongside our consulting services, making Tieto Tech Consulting a natural part of this strategy.
Local presence is key to achieving our ambition. OpenSpring and GrupoOnetec, with their long-standing customer relationships across multiple industries, will form the foundation of Tieto Iberia, led by a country manager reporting directly to me. This marks the beginning of an exciting and promising journey together. We warmly welcome our new colleagues to Tieto.”
The acquisition is valued at EUR 8 million based on enterprise value. It involves purchasing shares in Openspring IT Iberia, S.L., and Grupo Onetec, S.L. The financial results from these companies will be included in Tietoevry’s accounts once the deal closes, which is expected during the first quarter of 2026.
Norgestion served as financial advisor while EY provided due diligence and legal advice for the transaction.
Tietoevry is a global provider of software and digital engineering services with about 15,000 employees worldwide. Its annual revenue stands at around EUR 2 billion. The company’s shares are listed on stock exchanges in Helsinki, Stockholm, and Oslo (www.tietoevry.com).
