NORGESTION advised Tieto, the Finish leading software and digital engineering services company, on the acquisition of OpenSpring and GrupoOnetec in Spain to support its European expansion.
Tieto is pursuing its ambition to become a leading European provider of software and technology consulting within selected industries. As part of this strategy, the company has identified Spain as a particularly promising market for Tieto Banktech and Tieto Caretech, thanks to their modern, industry‑specific software and data solutions.
To support this growth agenda, Tieto has entered into a definitive agreement with AFI Family España to acquire OpenSpring and GrupoOnetec – two companies specializing in technology consulting and anti‑money‑laundering services. Their long-standing customer relationships offer Tieto a strong local presence in the Iberian region. The acquisition creates a solid platform for introducing Tieto’s competitive Banktech and Caretech solutions to Iberian customers, while also opening new opportunities for Tieto Tech Consulting.
OpenSpring and GrupoOnetec employ nearly 200 people across Spain and Portugal and serve a broad range of industries, with a strong focus on financial institutions and insurance companies. Together, they generate approximately EUR 10 million in annual revenue and show strong potential for continued standalone growth.
“We see significant growth potential in Iberia, particularly for Tieto Banktech and Tieto Caretech. These proven software platforms and data‑driven solutions, already widely adopted in the Nordics, can bring substantial value to organizations in the region. To maximize customer impact, we are expanding our vertical software businesses alongside our consulting services, making Tieto Tech Consulting an integral part of this strategy.
A local presence is essential to achieving our goals. OpenSpring and GrupoOnetec, with their established customer relationships across multiple sectors, will form the core of Tieto Iberia, led by a country manager reporting directly to me. This marks the start of an exciting and promising journey together. We are delighted to welcome our new colleagues to Tieto,” says Endre Rangnes, CEO of Tieto. The transaction, based on an enterprise value of EUR 8 million, includes the acquisition of shares in Openspring IT Iberia, S.L. and Grupo Onetec, S.L. The companies’ financial results will be consolidated following the closing, expected during the first quarter of 2026.
