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    Solteq divests MainIoT Software Ltd and strengthens it's strategy as expert in the field of digital commerce

    Solteq Plc Stock Exchange Bulletin 1.3.2016 at 9 am EET

    Solteq Plc (Solteq) has signed an agreement by which it has sold the entire share capital of MainIoT Software Ltd (MainIoT), its fully owned subsidiary. The purchaser is IFS, a globally operating company in developing and delivering business software for enterprise resource planning (ERP), enterprise asset management (EAM) and enterprise service management (ESM). The divestment enables Solteq to focus more on its strategic areas.

    As has been communicated in the fall 2015 Solteq’s strategy will focus strongly in the field of digital commerce in Finland, Sweden and even in broader geographical perspective with our global customers. To accomplish its goals and objectives Solteq is ready to move forward both in terms of acquisitions and divestments.

    Debt free purchase price of MainIoT is about 7,4 million euros, and it has been paid by cash. An additional purchase price of 0,6 million euros within next two years has also been agreed. Additional purchase price is conditional of fulfillment of certain objectives set for the acquired business by the purchaser. Solteq estimates that it will book a capital gain of approximately 3,2 million euros in its first quarter 2016 results.

    “I am very pleased that we made this agreement about selling the shares with IFS. The business of MainIoT will continue in an excellent company with perfect strategic fit. I think that this is the best possible next step for the people, customers and future of MainIoT. At the same time this transaction enables us to focus on our core strategy”, comments Repe Harmanen, CEO of Solteq Plc.

    Revenue of MainIoT Software Plc. was 5,0 million and profit 0,6 million euros in 2015. There are 40 people working in MainIoT.

    Solteq estimates that the divestment has no impact on the Solteq group’s revenue and profit guidance included in its financial reports bulletin. Compared to year 2015 turnover is expected to grow significantly and operating profit before non-recurring items is expected to grow.


    Further information:

    CEO Repe Harmanen,
    Tel +358 400 467 717

    CFO Antti Kärkkäinen,
    Tel +358 40 8444 393


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