Skip to content

    Business description

    Solteq is a Nordic provider of IT services and software solutions specializing in the digitalization of business and industry-specific software. The key sectors in which the company has long-term experience include retail, industry, energy and services. In addition to Finland, the company operates in Sweden, Norway, Denmark, Poland and the UK.

    We offer comprehensive services, which cover all aspects of our customers' operations from digital business development and service design to implementation and maintenance. A large portion of our revenue streams come from continuous services. SaaS and cloud services are crucial forms of our operations.

    Our service offering is characterised by the combination of extensive experience and deep customer and industry insight. We want to make everyday digital services as easy and convenient to use as possible.

    We strengthen our customers’ competitive edge and decision-making through extensive analysis and utilisation of real-time data. The acquisitions have also expanded our operating environment and made us a truly Nordic player.

    Nordic IT market outlook within the key industries for Solteq

    Solteq aims to meet the changing needs of the energy sector, retail industry, and e-commerce through its product development and expert services in the Nordics. Starting from January 1, 2023, the Group’s reportable business segments are Utilities and Retail & Commerce. The Utilities segment offers software solutions and expert services for the energy sector, and the Retail & Commerce segment for retail and e-commerce. The business areas share similar characteristics, such as the rapidly evolving digital transformation and the need for smarter and more efficient core functions. The company estimates that its offering matches well with the industry-specific development needs where the Nordic decision-makers are focusing their IT investments in the coming years.

    The demand for software solutions and expert services in the Nordic energy sector is accelerated by changes in the industry’s regulation, the transition to renewable energy sources, and the potential for more streamlined business operations created by the developing technology. The business of the Utilities segment consists of software solutions and expert services, which comprehensively take into account the regulatory changes in the Nordics and EU. Among these are nationally driven datahub projects for centralized information exchange and the unification of operating models regarding measurement practices and the opening of electricity markets. The company estimates that the segment’s industry-specific expertise and offering create a clear competitive advantage in the Nordic energy market.

    The Russian invasion of Ukraine has created significant market uncertainties, such as high inflation and increased interest rates. The uncertainties affect the Nordic market by weakening the demand, in particular, for the offering of the Retail & Commerce segment. However, the demand is driven by the rapidly evolving digitalization and the need for the secure, reliable, and coherent IT ecosystems.