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Europe

Euro Integrator Attracts Bids

3:45 PM -- Finnish systems integrator Tieto Corp. , an important partner to many European vendors and carriers, is attracting multiple admirers as it scours the market for a buyer. (See NSN's Staff Shuffle, Axiom Wins in Nordics, Nokia Teams With Integrator, and TietoEnator Deploys Cisco.)

It has already advised its shareholders to reject a €15 offer from Nordic Capital, which bid using an acquisition vehicle, Cidron Services Oy.

Now market talk suggests that other firms, including EDB Business Partner ASA and The Blackstone Group , are interested, though TietoEnator has issued a statement saying that it currently has no "binding offers to acquire the shares in the Company," but that it "continues to consider, and is in active dialogue on, other alternatives to enhance shareholder value."

TietoEnator's share price closed Wednesday at €16.80. The company recently announced a 6 percent year-on-year increase in first quarter revenues to €468.3 million ($744.3 million), and a 15 percent increase in operating profit (before capital gains and one-off items) to €37.6 million ($59.8 million).

— Ray Le Maistre, International News Editor, Light Reading

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