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The Estonian Competition Authority has given the green light to a transaction whereby Elion, an Estonian holding of the Teliasonera group, acquires the goods sales and IT services businesses of IT Grupp.
Estonian watchdog clears Elion to buy two business areas of IT Grupp
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The transaction took effect on Aug. 15 and 19 former employees of IT Grupp have already joined the Elion team and started working there, the companies said in a press release.
Elion and IT Grupp announced at the beginning of July they had signed a deal by which Elion will buy from IT Grupp the business areas of goods sales and IT services.
«Since the market of infrastructure solutions is becoming ever more service centered, it's essential to keep investing in the development of services and to raise business volumes. The consolidation happening on the market is a natural phenomenon in a situation like this,» the chairman of the supervisory board of IT Grupp, Jaak Ennuste, said at the time.
Elion's IT services are used by more than 600 businesses and state institutions across Estonia, including major banks and several ministries.
IT Grupp is an Estonian owned IT infrastructure provider established in 1991 that serves both private and public sector organizations.