TenderEasy complements Alpega with its transport procurement software and expertise

Castik Capital

Stockholm / Luxembourg – Alpega, a leading global logistics software company, has completed the acquisition of TenderEasy AB, Stockholm, effective as per December 31st 2017. The majority in Alpega is owned by funds managed by Castik Capital, the European private equity investment firm.

TenderEasy complements Alpega with its freight tendering software solution that is offered to customers across verticals and geographies. The company was founded in 2004 in Stockholm and launched its freight contract tendering solution in 2012. Since then, many reputable customers have been won who manage a substantial multi-modal freight tendering volume using TenderEasy. The company will be led by CEO and Founder Johan Vagerstam together with CTO and Founder Anders Åbjörn, as well as CCO Fredrik Nergell.

TenderEasy strategically broadens the product portfolio and geographic reach of the Alpega Group as it provides a critical add-on solution to Alpega’s Transportation Management Software (“TMS”) brands inet and Transwide. Customers of the tendering solution will benefit from the Alpega network of over 50,000 on-boarded carriers for sourcing transport providers.

While the TenderEasy solution will continue to be available stand-alone, it will also be technically integrated with the inet and Transwide products. This combines the freight tendering solution of TenderEasy with the TMS of Alpega to provide its customers with a seamless user experience when using several products of the Group.

Alpega was formed in 2017 as a leading global logistics software company that offers end-to-end solutions covering all transport needs, including TMS solutions and freight exchanges. Key products comprise:

  • inet – TMS solution for complex, multi-modal global transportation networks including unique dynamic optimization capabilities
  • Transwide – TMS solution for shippers, logistics service providers and carriers to manage the end-to-end execution of transports
  • TAS-tms – Modular TMS solution that enables carriers and freight forwarders to manage the entire transport process
  • Teleroute – Pan-European freight exchange that connects to more than 30,000 carriers to offer and allocate shipments
  • Bursa Transport – Leading freight exchange in Romania to offer and allocate shipments for 16,000 users
  • 123 cargo – Freight exchange to offer and allocate shipments in the Central and South Eastern European countries

Alpega management and shareholders are looking forward to continuing the growth and development of the Group together with TenderEasy

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EQT Mid Market acquires managed IT services provider Candidator

eqt

  • EQT Mid Market acquires Candidator, a Swedish managed IT services provider with capabilities for full IT outsourcing in Sweden and Norway
  • EQT Mid Market is committed to drive continued growth and further strengthen Candidator’s service offering both organically and through add-on acquisitions
  • Potential to further consolidate the fragmented Nordic managed IT services market

The EQT Mid Market Europe fund (“EQT Mid Market”) today announced that it has entered an agreement to acquire Candidator Holding AB (“Candidator” or “the Company”) from the private investment company Sobro and minority owners.

Established in 1997, Candidator is a managed IT services provider with capabilities for full IT outsourcing, providing its clients with mainly contractually recurring services, including cloud, hosting and application management. The Company has approximately 300 employees in Sweden and Norway with annual sales of around EUR 45 million. Candidator has managed to build strong customer relationships within the SME segment by combining customer focus with high quality IT solutions.

EQT Mid Market will support the continued development of Candidator’s growth strategy while strengthening its platform and developing its service offering, both organically and through acquisitions. The Company is expected to benefit from strong underlying secular trends, including increased share of IT outsourcing and growing cloud adoption.

“EQT has monitored the Swedish managed IT services market for a long time and identified Candidator as an attractive platform to drive the consolidation. We are impressed by Candidator’s strong financial performance and industry-leading customer satisfaction, successfully built by the founders and management. EQT’s expertise within the TMT and Services sectors, coupled with a strong network of Industrial Advisors will support Candidator’s further growth and development”, says Johan Dettel, Partner at EQT Partners, Investment Advisor to EQT Mid Market.

“We are excited about welcoming EQT as our new majority owner. Candidator is entering the next stage of growth in the Nordic managed IT services market and EQT will enable us to continue to develop our platform as well as future-proof our customer-centric service offering. Working together with EQT will empower us to build a leading Nordic managed IT services group”, says Johan de Verdier, CEO of Candidator.

HDR Partners served as M&A advisor to EQT Mid Market, White & Case as legal advisor, Bain as commercial consultant and KPMG as finance and tax advisor. All parties have agreed to not disclose the transaction value.

Contact:
Johan Dettel, Partner at EQT Partners, Investment Advisor to EQT Mid Market, +468 506 55 350
EQT Press Office, +468 506 55 334

About EQT
EQT is a leading alternative investments firm with approximately EUR 38 billion in raised capital across 25 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Candidator
Candidator AB has offices in Stockholm, Gothenburg, Malmö, Vara, Skövde, Bergen, Oslo and Alingsås, where the company has four modern data centers that deliver stable and efficient IT operations around the clock to the company’s approximately 400 contracted customers. Since the start in 1997, Candidator has shown strong growth and they currently have approximately 300 employees. The company’s strategy is to build long-term relationships with its customers by combining high levels of service with effective IT solutions that provide clear business benefits.

More info: www.candidator.se

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Gimv agrees to sell its shares in Mackevision to Accenture

GIMV

Gimv, together with other shareholders, has signed an agreement to sell its shares in Mackevision to Accenture. Headquartered in Germany, Mackevision is a market leader in Computer Generated Imagery (CGI). The acquisition will add state-of-the-art visualization capabilities to Accenture Interactive’s content production and digital services portfolio and strengthen its ability to create engaging customer experiences.

Mackevision (www.mackevision.com) was founded in 1994 and has a team of more than 500 employees with offices in Germany, the US, the UK, South Korea, China and Japan. They design and produce high-end 3D visualizations, animations and visual effects (VFX) for images, films and interactive applications, including sales and marketing, online product configurations, virtual showrooms and point-of-sale experiences. With clients that include global brands, Mackevision has achieved most notable success in the automotive industry – where CGI-based and ‘digital twin’ visualization has experienced some of the earliest adoption. From online vehicle configurators, to virtual dealer showrooms, to AR/VR product experiences, to batch catalog image creation, it has demonstrated what is possible with life-like virtual imagery. Mackevision has earned international acclaim for its work on the HBO Series “Game of Thrones” – for which it was awarded an Emmy.

Since Gimv’s investment in 2014, Mackevision successfully expanded globally with the opening of subsidiaries in China, South Korea and Japan but also reinforced its organization by completing the management team and by further professionalizing the company. Moreover, Mackevision realised an outstanding growth trajectory by almost tripling its revenues and by gaining key client references in all regions.

“Gimv’s effort to truly understand Mackevision, our business and our people, brought real added value during our alliance,” says Armin Pohl, CEO of Mackevision. “We are very thankful for the collaborative partnership over the last three years. We were able to implement our growth strategy and strengthen our market leadership, profitability and capacity for innovation. Our acquisition by Accenture is the next logical step in line with our strategy. Together, we are ready to take our business to the next level.”

Eric de La Vigne, Principal at Gimv, comments: “Mackevision’s management team has done a tremendous job in building the company to what it is today, having achieved a market leadership position globally and being referenced by the major automotive OEMs. We are very confident that the combination with Accenture will help the company to further grow in the automotive industry but also expand into new verticals and strongly benefit from the complementary offerings of Accenture.”

“The cooperation with the management of Mackevision can be seen as a textbook example where different success factors came together. Firstly and most essentially, there was a clear common and very ambitious goal on the development of the company. Secondly, the complementarity of both partners resulted in a fruitful collaboration, supported by a deep mutual trust. Last but not least, our co-operation has always been enriching and fun. Therefore, we are proud having achieved this together and are very happy to have found in Accenture the best next owner for Mackevision’s further development,” adds Sven Oleownik, Head of Gimv Germany.

Over the entire holding period, the investment in Mackevision generated a return well above Gimv’s long-term average return, with a positive impact on the last published equity value at 30 September 2017 of about EUR 0.7 per Gimv-share.

The transaction is subject to customary closing conditions. No further financial details on the transaction will be announced.

 

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Northzone leads $12m investment in Red Points

Northzone

Red Points, the smart solution to digital content piracy and online counterfeits, has closed a $12 million Series B round led by European VC Northzone. Previous investors Mangrove and Sabadell Venture Capital also participated in the round.

Intellectual Property (IP) infringement is a huge global issue. According to the OECD, trade in counterfeit goods was valued at USD 0.5 trillion in 2015, amounting to 2.5% of global trade. In addition, the growth of digital properties has led to an expanding problem for brand owners in securing copyright protection across a proliferation of third party sites.

Barcelona-based Red Points has developed a unique cloud-based SaaS solution for IP infringement detection and removal. Founded by Josep Coll, who shortly after brought in David Casellas as co-founder and VP Sales, and with Laura Urquizu joining as CEO in 2014, the company’s easy-to-use platform enables clients to automate counterfeit and piracy identification and take down. This is achieved through an advanced keyword-monitoring system with image recognition to detect IP infringements wherever they occur. Thanks to machine-learning features, Red Points’ clients can rely on ever-evolving online protection that learns from their account history and identifies new threats to be removed. This reduces loss of sale, quality distortion, price erosion, and brand dilution for its customers.

CEO Laura Urquizu comments: “Technology is our weapon against the spread of online IP infringements worldwide. We invest heavily in cutting-edge systems for efficient and cost-effective detection, validation and enforcement of all types of online violation, and provide actionable business insights to brand owners. We currently remove more than 200,000 incidents of illegal products and content every month for brands and media companies on marketplaces, social apps and websites – with an efficiency rate of 96%”.

In 2017, Red Points achieved an impressive annual growth rate of 350%, and extended its customer base from 100 to 300 clients worldwide, with particular traction in Europe and the United States. To further leverage its strong US growth, Red Points will open an office in New York in February 2018.

Laura Urquizu adds: “With this new funding round, we will expand our global business operations in the US and Europe. Red Points is changing the game in online IP protection. We want to enable any brand, anywhere in the world, to stop the risk of piracy or counterfeiting damaging their consumers and reputation.”

Northzone’s Partner, Jessica Schultz comments: “The online counterfeit market moves very fast. There is a clear gap in the market for a technology solution that is scalable and flexible to the demands of the brand owners, and has strong relationships with the online properties where IP infringements are a problem. When we met the Red Points team, we were impressed with what Laura and her team had built. Thanks to their SaaS model and a product that is highly effective and at the leading edge of innovation, we believe they have a real competitive advantage compared to service-led offerings. Fundamentally, this is about empowering brand owners to protect what’s rightfully theirs. What Red Points has achieved to date is impressive, and the success is seen in the feedback from their current customers and global growth. Opening a US office is the next natural step, and we are excited to work with Laura and the Red Points team in building their global IP-infringement prevention solution.”

David Waroquier, partner at Mangrove Capital Partners states: “Red Points is disrupting the way piracy and counterfeiting are being detected and resolved over the internet. The combination of a robust technology and an impressive team led by Laura Urquizu provides a highly efficient solution to manage what has become a huge and persistent pain for the industry globally. Their client’s successes to date and business acceleration shows that Red Points is consolidating its leadership position IP infringement detection and removal.”

 

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Hg announces investment in MeinAuto.de

HG Capital

Hg has announced today an investment in MeinAuto.de (‘MeinAuto’), a leading B2C online platform for new car purchases based in Germany. The terms of the transaction were not disclosed.

MeinAuto was founded in 2007 and is headquartered in Cologne with over 70 employees. The Company is one of Germany‘s leading online platforms for new car sales with over 16 million visitors per year and more than 9,000 dealers connected.

The investment is the first step in an initiative by Hg to develop a new integrated and technology enabled service provider in the automotive distribution & financing space. This initiative is the result of considerable sector work undertaken by Hg in recent years in the automotive services and software spaces, including prior investments in Zenith (vehicle leasing services), Epyx (an electronic network serving vehicle fleet operators and repair shops), Eucon (a platform for automotive parts pricing data) and Parts Alliance (a buying group and distribution network for after-market car parts).

Justin von Simson, Managing Partner and Head of the Munich Office at Hg, said: “We are delighted to partner with the management team of MeinAuto who have worked tirelessly over the last ten years to make the platform a true champion in the online automotive distribution space. As the online channel is gaining more and more importance for car distribution, we are excited about the opportunities that lie ahead for the business and together with the management team look forward to taking the platform to the next level of its evolution.”

Florian Wolff, Director at Hg, commented: “The automotive distribution sector is experiencing a fundamental change. We believe this creates a strong opportunity for MeinAuto given its clear and differentiated value proposition which has allowed the business to build a strong position in the sector. Hg firmly believes in the potential of MeinAuto to leverage its value proposition to further develop and grow the platform in the future. The investment is a perfect example for our approach in partnering with strong entrepreneurs and backing them to scale high-quality technology businesses.”

Alexander Bugge, Founder and Co-CEO at MeinAuto said: “In Hg we have found the right partner to take our company forward to its next level of development. Hg has deep sector knowledge and an excellent track record of building strong sustainable platforms.”

Thomas Eichenberg, Co-CEO at MeinAuto added: “We are confident that, together with Hg, we will be able to provide even better experience to our customers and further expand our offering.”

Cinven to sell Northgate Public Services Limited to NEC Corporation

Cinven

International private equity firm Cinven announces that it has agreed to sell Northgate Public Services Limited (‘NPS’ or ‘the Group’) to Tokyo Stock Exchange listed NEC Corporation (‘NEC’, TSE: 6701) for a total consideration of £475 million.

Acquired by Cinven in December 2014, NPS is a leading provider of mission-critical software and Intellectual Property-led services to the public sector in the UK, Australia and Canada. The Group is headquartered in the UK and has more than 2,000 staff worldwide.

NEC is a leader in the integration of IT and network technologies that benefit businesses and people worldwide. The acquisition by NEC is set to deliver significant growth opportunities to NPS capitalising on NEC’s biometric and artificial intelligence technology as well as its global network across North America, Asia Pacific (‘APAC’) and other regions.

David Barker, Partner at Cinven, said:

“The sale of NPS has been achieved despite a challenging UK public spending environment; NPS has been able to deliver cost-effective services that greatly improve the collaboration and efficiencies of public sector organisations.

“This transaction will enable the enlarged Group to offer a wider set of software and services to its existing clients and to expand both geographically and by sector. I look forward to working with the NPS and NEC teams to make a success of the combination.”

Steve Callaghan, Chief Executive of NPS, commented:

“Our team has worked incredibly hard over the past two years to transform the Group operationally and financially, ultimately making NPS a highly attractive asset to NEC. We see this as the beginning of our next phase of development as we capitalise on the technical capabilities and market access provided by NEC. It’s an exciting time to be part of NPS.”

Completion of the transaction is expected by the end of January 2018. The transaction follows Cinven’s other recent realisations, including CeramTec, a leading global manufacturer of high performance ceramics (October 2017), and CPA Global, a leading Intellectual Property management and technology company (August 2017).

Cinven was advised on this transaction by DC Advisory (M&A), KPMG (financial), Freshfields Bruckhaus Deringer (legal), Deloitte (tax) and OC&C (commercial).

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Ardian sells its stake in RGI to Corsair Capital

Ardian

Milan, January 9, 2017 – Ardian, a world-leading private investment house, together with the Founding Partner Paolo Benini and the top management, today announces the sale of a 100% stake in RGI, EMEA leading provider of software products and technology services to the insurance industry, to Corsair Capital.

Founded in 1987, RGI specialises in software development for insurance companies, covering the entire spectrum of insurance policy management through the provision of software and advisory services. The Group has a leading position in the European market with 100 clients including the world’s most prominent insurance companies to which it also offers application maintenance services. RGI employs around 800 people in EMEA.

Following Ardian’s profit sharing policy, the employees of RGI will receive a bonus for their valuable contribution to this success story. Ardian invested in RGI in 2014 in order to support the company in its international growth to become a ‘global company’. In 2016 RGI acquired a 100% stake in Kapia Solutions SAS, a French company operating in the same sector with a focus in the Life Insurance segment.

Corsair Capital is a leading private equity firm focused on the financial services industry and will be making a long-term strategic investment in RGI, which is well-positioned for growth in the attractive insurance technology industry.

Vito Rocca, CEO of RGI, stated: “I sincerely thank Ardian and the whole team of professionals for their important support to our international growth. Throughout its history, RGI has shaped the insurance industry as a digital influencer and we are confident that Corsair Capital will continue to foster our expansion into European markets and help us continue to deliver excellent service to our customers.”

Paolo Bergonzini, Head of Ardian Expansion in Italy, commented: “We have supported with passion the development of RGI’s business over the last three years. Together we have had much success thanks to RGI leadership in the reference sector and to its top management, with whom we have always had a relationship of trust and collaboration.”

Corsair Capital Managing Director, Raja Hadji-Touma, said: “We believe that the insurance industry has an increasing need for high quality core system solutions that help insurers streamline and digitise business critical processes. RGI’s comprehensive and modular offering has been widely recognized by clients and industry participants as a leading solution in the insurance market.  We are looking forward to working hand-in-hand with RGI’s management to further develop and expand RGI’s business opportunities internationally through our long-term strategic investment.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 480 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 610 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT RGI

RGI is one of the leading providers of core systems to the insurance market, providing a comprehensive and modular offering which addresses core insurance processes including policy administration, market management, and sales and distribution. With a team of 800 professionals specialised in IT and insurance, and operating from 12 offices in Italy, Ireland, France, Germany, Tunisia and Luxembourg, RGI has digitised the business of more than 100 insurance companies and 300 brokers across different geographies.

ABOUT CORSAIR CAPITAL

Corsair Capital LLC, which includes a highly regarded private equity platform, is a leading investor in the financial services industry. Corsair Capital has invested across a range of geographies and in substantially all of the subsectors of the broad financial services industry including wealth & asset management, payments & financial technology, banking & specialty finance, insurance, and services. Corsair Capital has completed $7.6 billion in equity investments since its founding.

 

INVOLVED PARTIES

ARDIAN

M&A advisor: GCA Altium
Vendor due diligence legale: Gattai, Minoli, Agostinelli & Partners
Vendor due diligence fiscale: CBA
Vendor due diligence contabile: PwC
Vendor due diligence ESG: Indefi

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Fortino Capital invests 20 million euros in expense management software pioneer MobileXpense

Fortino Capital

Zaventem, 21 december 2017 – Fortino Capital invests the first 20 million euros from its new Digital Growth Fund in fast growing cloud software pioneer MobileXpense. The Brussels-based company is specialised in travel and expense management and already completed more than 1.300 implementations worldwide.

As a majority shareholder, Fortino Capital will assist the MobileXpense management to further expand internationally and grow in the medium to large corporate segment by boosting sales and marketing efforts and by enriching the product portfolio.

MobileXpense was founded in 2000 by Xavier Deleval and Patrick Billiet who had previously worked together at Shell. They have a strong international customer base in various sectors, including many global deployments for Fortune 500 companies and world industry leaders (such as 2 of the world leading beverage companies, Engie, UCB, Porsche), as well a strong presence in the Dutch public sector.

Xavier Deleval, CEO MobileXpense: “We have developed a strong foundation in global expense management software solutions, following years of hard work out of the spotlights. Fortino Capital will guide us in our next steps to strengthen our commercial organisation and accelerate our product development.”

MobileXpense’s software distinguishes itself through its cost effectiveness, flexibility and ease of implementation. Its management tools integrate with all major ERP systems, travel booking tools, credit card issuers and meets the requirements of the most sophisticated multinationals. 

Matthias Vandepitte, Partner at Fortino: “This first investment exactly hits the of our new 200 million euros Digital Growth Fund. MobileXpense helps companies manage their travel and expense costs in a fully automated way, allowing them to gain efficiency and reduce expense spending through digitization. We look forward to grow this company to the next level.”

With its first fund, Fortino Capital has a track record in scaling up B2B software-as-a-service companies. Since the launch of the investment fund in 2013, Fortino has brought investment, expertise and their extensive network to the table to guide companies such as Teamleader in becoming successful and flourishing enterprises. With this second fund, the investment company now continues to target growth through digitization in Benelux companies.

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OpenSolution teams up with Finnpos

ik-investment-partners

OpenSolution, a leading Nordic payment solution provider owned by IK Small Cap I Fund, has reached an agreement to acquire Finnpos, an electronic payment solutions company based in Finland. Terms of the transaction were not disclosed.

OpenSolution offers a full service product and software portfolio to its client base, including restaurants, casinos and arenas. The company covers the entire value chain of payment solutions, making it a single point of contact for over 8,000 customers throughout Scandinavia. The acquisition of Finnpos extends OpenSolution’s geographic reach and bolsters the company’s position as a key player in the Nordic region.

Finnpos is a leading payments solution provider for restaurants and petrol stations in Finland, generating sales of approximately €10m. The company has major and local oil companies chains as well as both larger and smaller restaurants as customers. It has 64 employees and is headquartered in Tampere, Finland and with a sales office in Helsinki.

Combined sales of the group will be above MEUR 30 (2017).

Christian Johansson, CEO and founder of OpenSolution, said: “Through the acquisition of Finnpos, OpenSolution will become a true Nordic player and market leader within our chosen verticals. Their product portfolio will undoubtedly add to the company’s capabilities, and we are looking forward to working closely with Markku and the Finnpos team.”

Markku Piippo, CEO of Finnpos, said: “Joining forces with OpenSolution allows us to expand our services to our Nordic customers in Finland and throughout the market. With our combined product portfolios and our joint capabilities in product development, we become a stronger partner to our customers. We are truly excited about this opportunity.”

For further questions:

Christian Johansson
CEO, OpenSolution
+46 703 188530
christian.johansson@opensolution.se

Markku Piippo
Current CEO, Finnpos Systems
+358 40 5068700
markku.piippo@finnpos.fi

About OpenSolution
OpenSolution is a leading Nordic payment solution provider. By controlling the development of unique and innovative payment software OpenSolution is a preferred full service partner to numerous leading actors within the Nordic markets. References include arenas, transportation companies, aviation groups, Guide Michelin restaurants, leading casinos and many more. For more information, visit www.opensolution.se

OpenSolution, a leading Nordic payment solution provider owned by IK Small Cap I Fund, has reached an agreement to acquire Finnpos, an electronic payment solutions company based in Finland. Terms of the transaction were not disclosed.

OpenSolution offers a full service product and software portfolio to its client base, including restaurants, casinos and arenas. The company covers the entire value chain of payment solutions, making it a single point of contact for over 8,000 customers throughout Scandinavia. The acquisition of Finnpos extends OpenSolution’s geographic reach and bolsters the company’s position as a key player in the Nordic region.

Finnpos is a leading payments solution provider for restaurants and petrol stations in Finland, generating sales of approximately €10m. The company has major and local oil companies chains as well as both larger and smaller restaurants as customers. It has 64 employees and is headquartered in Tampere, Finland and with a sales office in Helsinki.

Combined sales of the group will be above MEUR 30 (2017).

Christian Johansson, CEO and founder of OpenSolution, said: “Through the acquisition of Finnpos, OpenSolution will become a true Nordic player and market leader within our chosen verticals. Their product portfolio will undoubtedly add to the company’s capabilities, and we are looking forward to working closely with Markku and the Finnpos team.”

Markku Piippo, CEO of Finnpos, said: “Joining forces with OpenSolution allows us to expand our services to our Nordic customers in Finland and throughout the market. With our combined product portfolios and our joint capabilities in product development, we become a stronger partner to our customers. We are truly excited about this opportunity.”

For further questions:

Christian Johansson
CEO, OpenSolution
+46 703 188530
christian.johansson@opensolution.se

Markku Piippo
Current CEO, Finnpos Systems
+358 40 5068700
markku.piippo@finnpos.fi

About OpenSolution
OpenSolution is a leading Nordic payment solution provider. By controlling the development of unique and innovative payment software OpenSolution is a preferred full service partner to numerous leading actors within the Nordic markets. References include arenas, transportation companies, aviation groups, Guide Michelin restaurants, leading casinos and many more. For more information, visit www.opensolution.se

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OpenSolution teams up with Finnpos

ik-investment-partners

OpenSolution, a leading Nordic payment solution provider owned by IK Small Cap I Fund, has reached an agreement to acquire Finnpos, an electronic payment solutions company based in Finland. Terms of the transaction were not disclosed.

OpenSolution offers a full service product and software portfolio to its client base, including restaurants, casinos and arenas. The company covers the entire value chain of payment solutions, making it a single point of contact for over 8,000 customers throughout Scandinavia. The acquisition of Finnpos extends OpenSolution’s geographic reach and bolsters the company’s position as a key player in the Nordic region.

Finnpos is a leading payments solution provider for restaurants and petrol stations in Finland, generating sales of approximately €10m. The company has major and local oil companies chains as well as both larger and smaller restaurants as customers. It has 64 employees and is headquartered in Tampere, Finland and with a sales office in Helsinki.

Combined sales of the group will be above MEUR 30 (2017).

Christian Johansson, CEO and founder of OpenSolution, said: “Through the acquisition of Finnpos, OpenSolution will become a true Nordic player and market leader within our chosen verticals. Their product portfolio will undoubtedly add to the company’s capabilities, and we are looking forward to working closely with Markku and the Finnpos team.”

Markku Piippo, CEO of Finnpos, said: “Joining forces with OpenSolution allows us to expand our services to our Nordic customers in Finland and throughout the market. With our combined product portfolios and our joint capabilities in product development, we become a stronger partner to our customers. We are truly excited about this opportunity.”

For further questions:

Christian Johansson
CEO, OpenSolution
+46 703 188530
christian.johansson@opensolution.se

Markku Piippo
Current CEO, Finnpos Systems
+358 40 5068700
markku.piippo@finnpos.fi

About OpenSolution
OpenSolution is a leading Nordic payment solution provider. By controlling the development of unique and innovative payment software OpenSolution is a preferred full service partner to numerous leading actors within the Nordic markets. References include arenas, transportation companies, aviation groups, Guide Michelin restaurants, leading casinos and many more. For more information, visit www.opensolution.se

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