Acquisitions and divestments

2021

Solteq Denmark A/S acquired a management consulting company specialized in the utilities sector

Partiture Oy

Solteq Plc acquired Partiture’s professional services business on March 1, 2021. Partiture's employees and customers were transfered to Solteq along with the acquisition. Partiture Oy has been known as Finland’s leading consulting and project management company in the energy sector. Read more.

2018

TM United A/S

Solteq completed the purchase of the entire share capital of TM United A/S, as announced earlier. TM United A/S’s solutions are focused on digital transactions and the optimization of the online customer experience. With the acquisition, the company expanded its business operations to Denmark and Norway. TM United A/S was consolidated into Solteq Group on 1 January 2018.

In order to simplify the Group structure 2018, TM United A/S, TM Care and Solteq Denmark Asp merged with Theilgaard Mortensen A/S. Theilgaard Mortensen A/S changed its name to Solteq Denmark A/S. In addition, Theilgaard Mortensen Norge AS was renamed to Solteq Norway AS and Theilgaard Mortensen UK Limited was renamed to Solteq Digital UK Limited. Read more.

ProInfo A/S

Growth in Denmark and other Nordic countries was boosted by a business transaction with the Danish company ProInfo A/S on 15 June 2018. Through the transaction, Solteq acquired certain competencies and customers related to retail and HoReCa IT systems. 12 IT professionals joined Solteq as part of the acquisition. Read more.

Analyteq Oy

In December 2018, Solteq Plc acquired 49 % of Analyteq Oy from Tuko Logistics Co-operative, after which Solteq owns the entire portfolio of Analyteq Oy. Read more.

Analyteq Oy has merged with Solteq Plc on July 1, 2019.

2017 and before

TM United A/S (Theilgaard Mortensen)

In December 2017, Solteq agreed to acquire the entire share capital of TM United A/S. The acquisition allowed Solteq to expand to the Danish market and open an office in Norway. TM’s solutions are focused on digital transactions and the optimisation of the online customer experience. The acquisition was completed in January 2018. Solteq estimated that after the acquisition about one fifth of the company’s annual net revenue comes outside Finland. Read more.

inPulse Works Ltd

In June 2017, Solteq acquired inPulse Works Ltd. The acquisition enabled Solteq to offer services that meet the varying needs of electricity, district heating and water companies. The acquisition also strengthened Solteq’s current BI and analytics expertise. The acquisition was in line with Solteq’s strategy revision stating that Solteq will expand its operations to sectors in which digital disruption is shaking the foundations. Read more.

Analyteq Ltd

In spring 2017, Solteq agreed to acquire 51 per cent of Analyteq Ltd, a new company into which Tuko Logistics Osk had corporatised their business focused on store and stock replenishment services. After the deal, Tuko Logistics holds 49 per cent of Analyteq. Analyteq specialises in producing a stock replenishment service based on demand forecasting and an analytics service based on supply chain management. Read more.

Pardco Group Inc.

Solteq decided in October 2016 to make a growth investment in the Nordic mid-market omnicommerce business. Omnicommerce means a retailing strategy that delivers a seamless customer experience through all available shopping channels – from brick-and-mortar shops to online stores and mobile. As part of the growth investment, Solteq has acquired the entire share capital of Pardco Group Inc.

Pardco Group Inc.is an agile ICT company that specializes in Magento eCommerce development and maintenance. Revenue is about 0.5 million euro. The parties to the deal share a will to grow in the strategically important area. Read more.

Aponsa AB

In the heart of Solteq strategy is digital commerce and international growth. In order to strengthen Solteq’s position in field of retail business in Sweden, it acquired Swedish Aponsa AB in November 25th, 2016. Taken the acquired Aponsa into account, there is now about 30 digital commerce experts in Solteq in Sweden, and even stronger expertise of retail business and LS Retail technology than before.

Aponsa AB is located in Stockholm and in Karlstad. In addition to Swedish operations, Aponsa AB has fully owned subsidiary in Riga, Latvia, that focuses on subcontracting. The purchase price (Enterprise Value, EV) is approximately EUR 1.13 million. The sellers were paid 60 % by directed share issue and 40 % by cash upon closing. Read more.

MainIoT Software Oy

On 29 February 2016, Solteq signed a contract selling the entire share capital of its subsidiary MainIoT Software Oy, provider of service and maintenance systems, to the IFS Group. The deal allows Solteq to intensify its focus on multichannel digital commerce. Read more.

Descom Group Oy

The acquisition of Descom Group Oy created a digital commerce service provider with operations in four different countries. Descom Group with its subsidiaries was a Finnish provider of IT and digital marketing services that worked with its clients to build sales, marketing and customer service solutions, creating excellent customer experiences. Read more.

Aldata Solution Plc

Through the acquisition of Aldata Solution Plc, Solteq’s services expanded to include supply chain management, enterprise resource planning and store and loyal customer systems. Aldata’s offering consisted of the company’s own software, Microsoft’s ERP systems and the supply chain management and optimisation products owned by the Aldata Group. Read more.

Acquisitions and divestments

Learn how our acquisitions have supported our strategy and how they have made an impact on our future goals

2023

Solteq sells its ERP business based on Microsoft BC and LS Retail solutions to Azets

2022

Solteq acquires S2B Energia Oy, a system and service provider in the energy industry

Solteq acquires the entire share capital of energy sector specialist Enerity Solutions Ltd