International growth in digital revolution
We are a growing, internationally expanding digital commerce expert. Our growth mostly comes from the Nordic countries but also from Finland and designated global clients.
The cornerstones of the strategy published in spring 2016 are digital commerce, growth and internationalisation. Growth will be generated by our highly competent experts and offering that covers the entire supply chain, and the digitalisation of commerce will give momentum to it. Our customers act in the field of retail, wholesale and manufacturing, are B2C or B2B.
Growth and internationalisation
We pursue growth that is brisk and faster than the market growth. In Finland, our growth is supported by an expanding offering. We are better prepared than before to provide our existing and new clients with increasingly comprehensive services.
Most of our growth comes from outside Finland. As our strategy is to increase the number of global clients by means of precisely defined solutions requiring special expertise, the compatibility of our solution with the client’s business will be more essential than geographical location.
Our growth in the Nordic countries is based on solutions that require local presence, for example, store solutions for omnichannel commerce. For the part of these solution areas, we will expand our local network.
Our solution offering
Our competitive advantage is an exceptionally wide solution offering that covers the entire digital commerce supply chain. Our solutions help our clients from procurement and supply chain via a genuine omnichannel store network to digital retail and marketing.
We will develop our services and geographical coverage through M&A activities. We see mergers and acquisitions as an essential part of our growth story.
The core of Solteq’s strategy – digital commerce expertise – is based on the skills and competencies of our experts. As the world and our product portfolio develop, we intend to maintain the competencies of our experts at the top level to ensure that we will hold our lead over our competitors or even grow it. One way of ensuring our lead has been the establishment of Solteq Academy.
Growth requires investments
The new strategy has a strong focus on growth in the Nordic digital commerce market. Growth requires investments, such as company acquisitions and recruitments.
Acquisition of Aponsa AB to strengthen the foothold in the Swedish market
Solteq took a significant step forward in its Nordic growth strategy when it purchased Aponsa AB’s entire share capital in October 2016. The company acquisition significantly increased Solteq’s knowledge of LS Retail technology and the retail business in Sweden.
After the acquisition of Aponsa AB, Solteq had about 30 digital commerce experts in Sweden. The deal was a win-win arrangement for both the parties. Solteq strengthened its presence in the Swedish market and Aponsa its ability to digitalise Swedish retail business. The shared goal is to conquer the Nordic digital commerce market.
Growth investment in Nordic omnichannel commerce – high-end solutions available also for mid-market clients
Solteq’s omincommerce expertise is among the strongest in the Nordic countries. It has, however, been at its best with large and global customers. Similar top-class partners have not been available to mid-market businesses.
In October 2016, Solteq decided to make a growth investment by establishing a Magento competence center. An online store based on the Magento platform combined with Solteq’s other solutions will enable even mid-market clients to provide a uniform customer experience in different channels – brick and mortar, online and mobile.
Niche acquisition to boost growth investment in omnichannel – Solteq acquired Pardco Group Oy
In October 2016, Solteq made a growth investment in Nordic omnicommerce business. To boost the investment Pardco Group Ltd, a company specialising in the development and maintenance of online stores based on the Magento platform, was acquired. The deal was concluded in December 2016.
The company acquisition increased the number of personnel in the Magento competence center to 15. Solteq finds the new-born synergy of eCommerce and digital marketing especially fruitful and beneficial for mid-market players. On the other hand, the Magento technology experts enjoy new projects and more versatile career paths.
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Annual reports and financial statements
Annual Report 2016
The year 2016 was a year of growth for Solteq. In addition to new clients in Finland, the Nordics and global, M&A activities also boosted our growth.
Annual Report 2016
Solteq's year 2016
Highlights of the year: sale of MainIoT, provider of maintenance systems, new digital commerce growth strategy, retail solutions for Musti ja Mirri in the Nordics, Aponsa AB – niche acquisition in the Nordic, decision to make growth investments in eCommerce and purchase of Pardco to boost the growth investment.
Annual Report 2016
Customer Solutions & Digital Solutions
Our business is dividend in to two segments: Customer Solutions and Digital Solutions. Digital Solutions segment’s services improve the customer experience in online environments. Customer Solutions segment provides services for store chains and hospitality operators undergoing changes brought about by digitalisation.
Annual Report 2016
Solteqians, clever digital saviours. Extraordinary solutions are produced by extraordinary individuals, by people who are committed to helping clients to success. The Solteqians are digital saviours!