Tieto has made a bold move by deciding to sell Bekk Consulting AS in Norway to the private equity firm Axcel. This change signals a significant shift in Tieto’s strategic landscape—but here’s where it gets controversial: is this a smart financial move or a risky divestment?
Tietoevry Corporation, now rebranded simply as Tieto as of November 2025, announced on December 1, 2025, that it has signed an agreement to transfer ownership of Bekk Consulting AS to Axcel. The deal values Bekk at an enterprise price of NOK 1,700 million (around EUR 140 million), excluding cash and debt, with standard adjustments expected at closing. This transaction is anticipated to finalize in the first quarter of 2026. Following its updated approach to capital management, Tieto plans to use the funds raised from this sale to pay down debt and return capital to its shareholders.
Bekk Consulting has a long history that began when it was acquired by ErgoGroup in 2007. Today, the company operates as part of Tieto Tech Consulting (formerly known as Tietoevry Create) but has maintained a strong independent brand identity. With roughly 600 employees, Bekk has an esteemed reputation across Norway for technology and management consulting. To put its recent performance into perspective, by the end of Q3 2025, Bekk’s revenue over the past year totaled NOK 1,056 million, alongside an operating profit (EBIT) of NOK 150 million.
As Tieto Tech Consulting focuses on streamlining and integrating its services, it reached a strategic crossroads regarding Bekk’s future. The decision to divest Bekk came from the insight that this path offers the best prospects for all involved. Endre Rangnes, Tieto’s President and CEO, explains: “While Bekk has thrived as an autonomous part of Tech Consulting, the current strategic shift means that continuing independently is ideal for Bekk and for us.”
Axcel’s Partner, Lars Cordt, shares enthusiasm about the acquisition: “Bekk holds a prominent position in Norway’s technology and management consulting sector. We’re excited to partner with them to support their growth as a top digital transformation consultant. We also value our positive collaboration with Tieto in bringing this deal to fruition.”
DNB Carnegie served as the exclusive financial advisor on this transaction, with legal services provided by Schjødt.
A quick note on branding: Tietoevry officially adopted the simplified name Tieto in November 2025, though the parent company’s renaming awaits approval at the next Annual General Meeting.
For more information, Tieto invites inquiries through their communications team or investor relations, with contacts available on their website.
Tieto is recognized globally as a leader in software and digital engineering services, boasting a workforce of about 15,000 skilled professionals specializing in sectors such as healthcare (Tieto Caretech), banking (Tieto Banktech), industrial technology (Tieto Indtech), and digital engineering (Tieto Tech Consulting). Their expertise ranges from vertical software development to cloud computing and artificial intelligence. With an annual revenue approaching EUR 2 billion, Tieto’s shares are publicly traded across the Helsinki, Stockholm, and Oslo stock exchanges.
This sale raises a compelling question: is Tieto’s decision to part with a well-regarded consultancy like Bekk a strategic masterstroke aimed at sharpening focus and financial health, or could it limit Tieto Tech Consulting’s future capabilities? What do you think—smart corporate strategy or missed opportunity? Feel free to share your perspective below!
