27 June 2024
Tietoevry and Norsk Tipping, both with 50% ownership in Buypass AS, have jointly entered into an agreement with Total Specific Solutions (TSS) on the sale of their shares in Buypass AS.
Buypass was co-founded by Tietoevry and Norsk Tipping in 2001 and reported a revenue of NOK 335 million in 2023. Buypass has approx. 80 employees and it provides development, operation and management of a modern digital lottery solution to Norsk Tipping as well as trust and digital ID services to various other customers.
Tietoevry focuses on specialized software and digital engineering businesses and has concluded that ownership in Buypass is not aligned with its strategy.
The transaction is conditional to the approval of Norwegian Financial Supervisory Authority, which is expected during Q3 2024.