Tietoevry acquires US-based digital engineering firm MentorMate

Tietoevry, a leading software and digital engineering services provider, has acquired MentorMate, a US-based digital engineering firm, from its current owner Taylor Corporation. The acquisition sees over 1,000 employees from Bulgaria, Paraguay, and the US, joining Tietoevry, further expanding its advanced digital engineering, data, and AI capabilities.

MentorMate, with an impressive track record of high-quality deliveries, holds a strong position in the North American market. The company brings notable revenue growth, having achieved $65 million in 2022, representing a growth rate of about 40% and profitability accretive to Tietoevry Create. The firm, one of the leading tech employers in Bulgaria, will become part of Tietoevry’s Create business, enhancing its North American business and creating a presence in Bulgaria and Paraguay’s attractive talent markets.

The acquisition aligns with Tietoevry’s strategic focus on software and digital engineering services and bolsters its ambition to become a global leader in digital engineering. The merging of Tietoevry Create and MentorMate will enable the capturing of generative AI opportunities in the market, contributing to Tietoevry Create’s financial objectives set for 2025.

Christian Pedersen, Managing Director of Tietoevry Create, welcomed the MentorMate team, stating, “With great talent and customers, MentorMate plays a key role in our path to building a leading global digital engineering business. It enhances our North American business and creates a presence in the attractive talent markets of Bulgaria and Paraguay.”

Echoing this sentiment, Kimmo Alkio, CEO of Tietoevry, emphasized the acquisition as a concrete step to accelerate their strategy execution and value creation. Glen Taylor, Chairman and Founder of Taylor Corporation, expressed confidence in Tietoevry as a suitable future home for MentorMate’s employees and clients.

MentorMate President Jay Miller also expressed positivity about the acquisition, stating, “Being part of Tietoevry Create accelerates our long-term goal to become one of the world’s top digital engineering providers.” The terms of the transaction remain confidential.