Support The Moscow Times!

Tieto Stays, But JV Off

HELSINKI — Finnish IT company Tieto has agreed with Moscow-based I-Teco to pull out of plans announced in September 2010 to establish a joint venture.

The companies concluded that, in the current market environment, the benefits from a joint venture would be smaller than initially estimated. The companies will, however, continue their cooperation in the data center field in Russia. It was announced previously that Tieto has a data center on I-Teco’s premises.

Tieto’s sales in Russia have grown during the past year in several industry and service segments, including projects related to the data center services. Tieto provides IT services that include cloud and SaaS (Software as a Service) services.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.