Commission Decision of 30/08/2011 declaring a concentration to be compatible with the common market (Case No COMP/M.6256 - TIETO CORPORATION / SWEDBANK GROUP / SEB GROUP / TIETO ESTONIA SERVICES) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic) |EUROPEAN COMMISSION | Brussels , 30/08/2011 C(2011)6272 PUBLIC VERSION SIMPLIFIED MERGER PROCEDURE To the notifying parties | | Dear Madam(s) and/or Sir(s), Subject: Case No COMP/M.6256 - TIETO CORPORATION/ SWEDBANK GROUP/ SEB GROUP/ Tieto Estonia Services Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 [1] 1.
On 22.07.2011, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertakings Tieto Corporation (Finland), Swedbank AS (Estonia) controlled by Swedbank AB (together with Swedbank AS, "Swedbank group", Sweden) and AS SEB Pank (Estonia) controlled by Skandinaviska Enskilda Banken (together with AS SEB Pank, "SEB group", Sweden) acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the undertaking Tieto Estonia Services OÜ ("Tieto Estonia Services", Estonia) by way of purchase of shares in a newly created company constituting a joint venture [2] .
2. The business activities of the undertakings concerned are: - for Tieto Corporation: IT services and software solutions; - for Swedbank group: financial services; - for SEB group: financial services; - for Tieto Estonia Services: IT services. 3. After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 [3] . 4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement.
This decision is adopted in application of Article 6(1)(b) of the Merger Regulation. For the Commission (Signed) Alexander ITALIANER Director General [1]OJ L 24, 29.1.2004, p. 1 ("the Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market" by "internal market". The terminology of the TFEU will be used throughout this decision. [2] Publication in the Official Journal of the European Union No C 228, 03.08.2011, p.8 [3] OJ C 56, 5.3.2005, p.
32.