Our most significant acquisitions
Learn how our acquisitions have supported our strategy and how they have made an impact on our future goals.
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.
In spring 2017, Solteq agreed to acquire 51 per cent of Analytec 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 Analytec. 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.
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 here.
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 here.
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 here.