Tieto acquires OpenSpring and GrupoOnetec to expand in Spain
Summary
Tieto agreed to acquire Spain-based OpenSpring and GrupoOnetec to accelerate its expansion in Iberia and strengthen its vertical software offerings. The two businesses employ close to 200 people across Spain and Portugal and report combined revenues of approximately 10m; the transaction is based on an enterprise value of 8m and is expected to close in Q1 2026. OpenSpring and GrupoOnetec specialise in technology consulting and anti-money-laundering services, providing a local platform for Tieto to introduce its Banktech and Caretech software and to grow Tieto Tech Consulting. Tieto will fully consolidate the companies' financials and establish Tieto Iberia led by a country manager reporting to the CEO.
Classifications
industries
Fintech & Banking
applications
ERP & Process Management
AskAI Classifications
Labels
Software Development
SaaS
Digital Banking Software
Linked Companies
Tietoevry
$1B+