Solteq Plc purchased the entire share capital of Aldata Solution Plc on 22 March 2012. The acquisition strengthened Solteq’s position as a service provider to the wholesale/retail sector in Finland, widened the company’s client base and product offering and facilitated expansion to the hotel and catering industry.
Aldata’s software offering consisted of the company’s own software developed in Finland and third-party products including Microsoft’s ERP systems and supply chain management and optimisation products owned by the Aldata Group.
In connection with the company acquisition, Solteq Plc and Aldata Solution Plc agreed on collaboration concerning the representation of the Aldata Group’s solutions. Solteq represents the Aldata Group’s GOLD, Loyalty, Apollo and Cosmic product families in Finland and its neighbouring countries.
Aldata Solution Finland’s turnover (FAS) in 2011 was 13.3 million euro and operating profit 1.2 million euro. At the time of the company acquisition, the number of employees was 74.
The enterprise value of the acquisition was about 8.3 million euro. The acquisition was financed through business property share sales arrangements, directed share issue of 3.1 million euro and a bank loan.