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Evry

EVRY ASA was a Norwegian information technology company providing services in , , , and . Headquartered in Fornebu near , it was formed in 2010 through the merger of EDB and ErgoGroup, and employed approximately 10,000 people across 135 offices in 16 countries as of 2014. EVRY served key sectors including banking and , , healthcare, , and , with a focus on in the region. In December 2019, EVRY merged with Finnish IT firm Tieto to form , creating one of the largest software and digital services companies in the Nordics.

History

Formation

EVRY traces its origins to the merger of two prominent IT companies, EDB Business and ErgoGroup, which combined to form a leading provider of IT services. EDB Business was established in 1962 as a serving three major insurance companies—Sigyn, Norsk Alliance, and —and grew through the integration of over 70 IT firms and data centers, including AS EDB, evolving into a key player in IT operations and by the 2000s. ErgoGroup, meanwhile, originated in 1972 as Statens Datasentral, a government-initiated entity focused on IT services, and later became a of Posten Norge, emphasizing IT outsourcing, consulting, and systems across the Nordics. The merger was announced on June 7, 2010, and completed on October 14, 2010, creating EDB ErgoGroup ASA with a combined of approximately 10,000 employees and annual revenues of 12.7 billion. The strategic rationale centered on consolidating the Norwegian IT market and positioning the new entity as a champion in IT services, enhancing competitiveness through scale and complementary expertise in banking, , and solutions. Initial ownership of EDB ErgoGroup was divided with EDB shareholders holding 53% and ErgoGroup shareholders (primarily Posten Norge) holding 47%, while , the majority owner of EDB prior to the merger, retained about 27% of the combined company. This structure supported the goal of market consolidation in Norway's fragmented IT sector. In 2012, the company rebranded as EVRY to reflect its unified identity and growth ambitions.

Rebranding and growth

In March 2012, EDB ErgoGroup ASA announced its to EVRY ASA, representing a strategic repositioning following the merger that formed the company. The name change aimed to unify the organization under a modern identity, emphasizing innovation and expansion within the IT services landscape. During the mid-2010s, EVRY achieved notable growth, with a workforce of approximately 10,000 employees by 2012, which decreased to around 8,500 by 2017 amid operational changes. The company grew its operational footprint to approximately 50 locations across by 2012, with further international reach developing in subsequent years. Key milestones included selective acquisitions of smaller IT firms in and to bolster capabilities in local markets, contributing to a broader presence in 11 countries by the late . In December 2014, funds advised by launched a voluntary offer to acquire EVRY, completing the takeover in 2015 and delisting the company from the , with Apax becoming the majority owner until the 2019 merger. EVRY shifted its strategy toward , prioritizing services that supported client modernization efforts. The company invested heavily in , exemplified by a 2015 partnership with to enhance cloud adoption and for customers. Investments in cybersecurity also intensified to address evolving threats in management. Revenue reflected steady progress, from NOK 12.7 billion in 2012 to NOK 12.6 billion in 2017, driven by and strategic initiatives. Despite these advances, EVRY faced intense competition from global giants like and in the Nordic IT services market, where leaders like dominated segments. This competitive pressure prompted adaptations, including a major 2015 outsourcing deal with that transferred around 600 employees and infrastructure management responsibilities to the U.S. firm over a 10-year period valued at over $1 billion.

Merger with Tieto

On June 18, 2019, Tieto Corporation and EVRY ASA announced a merger agreement to combine their operations through a cross-border merger, with EVRY merging into Tieto. The deal was structured as an all-stock and cash transaction valued at approximately 13.2 billion (around EUR 1.3 billion), under which EVRY shareholders received 0.12 new Tieto shares and 5.28 in cash per EVRY share. Following the merger, Tieto shareholders were to hold approximately 62.5% of the combined entity, while EVRY shareholders would own 37.5%. The merger aimed to form a leading digital services and by leveraging synergies in IT services and , positioning the new entity as a powerhouse serving businesses and the across the region. The combined company was projected to employ around 24,000 professionals and generate annual revenue of nearly EUR 3 billion, enhancing capabilities in and industry-specific solutions. The transaction received necessary approvals, including competition clearances from the Norwegian Competition Authority and relevant authorities, as well as regulatory nods for EVRY's payment services licenses. The merger was completed on , 2019, with registration in the Finnish Trade Register, marking the dissolution of EVRY as an independent entity. The new company, named TietoEVRY Corporation (later rebranded as ), was headquartered in , , and proceeded with integrating EVRY's operations into its structure, including initial focus on country teams and service lines. Post-merger, operational and cultural integration began, with the combined entity emphasizing unified reporting and heritage while phasing toward a single brand identity.

Business activities

Core services

EVRY's core services encompassed a broad portfolio of IT outsourcing, , and consulting, designed to support enterprise . The company's offerings focused on delivering reliable, scalable and application management, with a strong emphasis on operational efficiency and . In , EVRY reported significant revenue from these areas, including NOK 1,110 million from application services and NOK 1,151 million from consulting services in the fourth quarter alone. IT outsourcing formed a of EVRY's services, providing managed operations for s and legacy systems. This included the maintenance and operation of mainframe environments, where EVRY leveraged expertise in zEnterprise systems running , DB2, , and IMS to ensure high-availability transaction processing. Additionally, EVRY facilitated cloud migration through solutions like Cloud Direct, a Azure-based platform that enabled seamless transitions from on-premises infrastructure to hybrid cloud models, supporting operations at facilities such as the Fet data center. In software solutions, EVRY specialized in the development of custom applications tailored for high-volume and digital platforms. These services involved creating bespoke systems for payments, channels, and core operations, often delivered as models to enhance and reduce deployment times. For instance, partnerships enabled the integration of secure payment processing capabilities using modern . EVRY's consulting services provided strategic advisory on , cybersecurity, and , employing agile methodologies to accelerate project delivery. Consultants assisted clients in developing roadmaps for technology adoption, including risk assessments for cybersecurity and seamless integration of disparate systems. This approach emphasized iterative development and cross-functional collaboration to align IT with business objectives. Key technologies underpinning EVRY's services included deep expertise in mainframes for mission-critical workloads, Java-based enterprise applications for robust backend development, and emerging tools for process . implementations, such as fraud detection algorithms, demonstrated EVRY's focus on to enhance and efficiency in IT operations.

Key sectors served

EVRY's primary focus in encompassed systems, platforms, and payment processing solutions tailored for Nordic institutions. The company delivered mainframe services and fraud prevention technologies to DNB, Norway's largest bank, enhancing operational efficiency and . It also provided comprehensive and payment services to multiple Norwegian banks, including Sparebanken Sør, Sparebanken , Sparebanken , and Fana Sparebank, under multi-year agreements valued at 1.2 billion collectively. These platforms supported high-volume , enabling secure digital channels for millions of users across the region. In the , EVRY offered IT solutions for government agencies and local authorities in and , emphasizing e-invoicing and citizen services to streamline administrative processes. Key implementations included technology for the Tax Administration, supporting 6,500 employees in processing and , and platforms for major Norwegian municipalities to improve service delivery. These solutions facilitated management and automated workflows, aligning with mandates for . EVRY extended its expertise to healthcare and utilities, providing electronic health records and energy management software primarily in . In healthcare, the company deployed patient record solutions to serve nearly three million individuals, replacing paper-based processes to enhance and care coordination for municipalities and providers. For utilities, EVRY's offerings included tools for energy distribution, supporting operational efficiency for regional clients amid the sector's digital transition. EVRY held a dominant market position in the Norwegian banking sector as the largest provider of IT software and solutions, serving a significant share of institutions with mission-critical systems designed for high reliability. This focus on uptime and underpinned its role in over 14,000 public and private clients across the Nordics. Following EVRY's merger with Tieto in to form (later rebranded ), these business activities integrated into the larger entity. In September 2025, divested its Tech Services division—which included much of EVRY's legacy outsourcing and —to Agilitas, rebranding it as Vivicta.

International operations

Operations in India

EVRY India was established in 2008 as a wholly-owned of the IT company EVRY ASA, building on earlier incorporation in and the integration of local operations such as SPAN Infotech. The operates as a key offshore hub, with primary offices in and , supporting global delivery capabilities. By 2019, EVRY had grown to over 2,000 employees, reflecting its expansion in response to increasing demand for IT outsourcing from the parent company. As an offshore development center, EVRY India focuses on , testing, and operational support, enabling cost-effective and scalable solutions primarily for and clients in the sector. This setup leverages 's talent pool to handle complex projects that require 24/7 operations and proximity to time zones for real-time collaboration with headquarters in and other locations. The centers are certified at CMMI Maturity Level 5 for both development and services, ensuring high standards in process maturity and quality. EVRY India delivers a range of services including application development and maintenance, tailored for banking operations, and in . These offerings support core activities such as modernizing systems, implementing solutions, and enhancing cybersecurity for . Representative projects have involved developing applications for European banks, integrating features like secure and to improve and compliance with regulatory standards. Following the 2019 merger between EVRY ASA and Tieto Corporation to form , EVRY India integrated into the broader structure as Tietoevry India, while retaining the EVRY brand for continuity in service delivery. This transition enhanced resource sharing and technological synergies, allowing EVRY India to contribute to Tietoevry's global IT model without disrupting ongoing client engagements in the region.

Global presence

EVRY maintained a significant international footprint beyond its Nordic core, with operations spanning , , and to support its IT services delivery model. The company had employees across 11 countries, including , , , , the , , , , , the , and , totaling 8,807 full-time employees as of mid-2019. This global structure enabled nearshoring and offshore capabilities, with a focus on regional IT support in and delivery centers in other regions to ensure 24/7 operations for clients. In , EVRY operated offices in , , , and , emphasizing regional IT support and nearshoring for cost-effective development and maintenance services. served as a key hub with dedicated offices supporting application services and consulting, contributing substantially to the company's revenue. 's presence facilitated nearshoring for Eastern European talent pools, complementing operations. The majority of EVRY's workforce was concentrated in the , where approximately 80% of employees were based, underscoring the company's regional emphasis while leveraging international teams for global scalability. acted as a key offshore hub for and support. Beyond Europe, EVRY established a presence in the United States through delivery centers, entering the market in to offer services and digital solutions tailored to North American clients. This expansion aligned with the company's strategic shift toward infrastructure, supported by a major partnership with announced that year, involving over NOK 500 million in investments to enhance global capabilities. By 2017, EVRY's network included 135 offices across 16 countries, reflecting steady growth in its international operations prior to the merger. These strategic moves, including collaborations with global firms like , positioned EVRY to deliver seamless, round-the-clock services while maintaining a strong foundation.

Corporate affairs

Leadership and governance

During its independent operation from 2012 to 2019, EVRY ASA was led by a series of CEOs who guided the company's rebranding, growth, and strategic positioning in the Nordic IT services market. Terje Mjøs served as CEO from 2012 to 2015, overseeing the rebranding from EDB ErgoGroup to EVRY in April 2012 and focusing on integrating operations post-merger of its predecessor entities. Björn Ivroth succeeded him in March 2015 and held the position until July 2018, emphasizing organic growth, expansion in application services, and strengthening EVRY's position as a Nordic IT leader through acquisitions like Findwise in 2018. Per Hove was appointed CEO in November 2018 and served until the 2019 merger, prioritizing digital transformation strategies, including investments in cognitive analytics and cloud services to drive revenue growth in consulting and application areas. The board of directors was chaired by Salim Nathoo from 2017 onward, a partner at Apax Partners with expertise in technology and telecommunications investments, reflecting the company's ownership shift. Prior to Apax's acquisition of a majority stake in 2015, the board included representatives from major shareholders Telenor ASA and Posten Norge AS, providing telecom and public sector perspectives; post-acquisition, it comprised finance and IT experts such as Rohan Haldea (Apax representative), Kristin Krohn Devold (with HR and defense background), Leif Teksum (IT veteran), and Malin Persson (finance specialist). This composition ensured balanced oversight amid ownership changes, with the board meeting regularly to approve strategic initiatives like the 2017 Oslo Børs listing. EVRY adhered to Norwegian corporate law under the Public Limited Liability Companies Act and followed the , which emphasized transparent reporting, shareholder rights, and . The company maintained an for financial oversight and an ethics framework integrated into its , promoting measures and compliance. was a key element, with annual reports highlighting environmental initiatives like energy-efficient data centers and in IT , aligned with (GRI) standards. These practices supported ethical decision-making and long-term value creation during the growth phase. Under CEO Per Hove, EVRY's leadership played a pivotal role in negotiating the 2019 merger with Tieto Oyj, announcing the combination in June 2019 to form a leading services entity. This strategic move built on prior executives' efforts to enhance competitiveness in IT solutions.

Financial overview

EVRY's revenue following its formation through the 2008 merger of EDB and ErgoGroup stabilized around 12 billion in the early , reflecting post-merger integration efforts, before achieving steady expansion driven by demand in IT services. By 2017, annual revenue reached a peak of 12.6 billion, supported by averaging approximately 3% per year across the period, primarily from consulting and application development segments. Profitability metrics during the mid-2010s showed resilience, with adjusted EBITDA margins consistently ranging from 10% to 12%, underscoring operational efficiencies amid competitive pressures in the IT outsourcing market. This period also featured targeted investments in , though specific R&D allocations were not publicly detailed beyond general commitments. A pivotal ownership shift occurred in 2015 when funds advised by acquired an 88% stake in EVRY for NOK 3.8 billion, delisting the company from the and enabling a strategic refocus on core profitability and cost optimization. This involvement facilitated improved financial discipline, contributing to enhanced margins and generation in subsequent years. The company's financial trajectory culminated in its merger with Tieto, valuing EVRY at an enterprise value of EUR 1.2 billion and forming with combined annual revenues nearing EUR 3 billion. Growth during EVRY's independent phase was modestly influenced by executive leadership emphasizing initiatives.

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