Operating environment

We are specialized in digitalization of businesses

Our operations include project-specific and continuous professional services as well as industry-specific software products. The common denominator between these services is the in-depth industry expertise we have developed during Solteq’s 37 years of operations. Our technology choices are based on growing market trends, such as cloud services, SaaS, artificial intelligence, analytics and robotics.

Digitalization is emerging as a key aspect in organizations. Digital solutions are expected to generate concrete and quantifiable business benefits. Such solutions include for example digital self-service channels, market roll-outs of new electronic services, e-commerce, the productive use of a continuously growing amount of data and the automation of manual operations. Translating technical innovations into practical customer value is the foundation of future success.

Enterprises are moving to cloud services at an accelerating pace. Gartner estimates that the global cloud services market will grow by 17.3% and reach 180 billion euros in 2019. Microsoft and Amazon are the market leaders in this sector.

SaaS (Software as a Service) has become an integral aspect of today’s business. According to a report published by Business Wire, the global SaaS market is expected to grow by 21.2% by 2023.

SaaS Smart Robotics plays a significant role in our product development. The industry is seeing significant growth and various studies estimate it will grow at an annual rate of approximately 30% (CAGR) to approach a milestone of 10 billion euros by 2023.

Robotics and artificial intelligence are changing the society. A good example of this is the national ROSE project in Finland, which explores how the advancement in service robotics will enable product and service innovation as well as the renewal of wellbeing services, particularly in response to the needs of the ageing population. Robotics will also create new jobs and it is predicted that the number of new jobs it creates will exceed the number of jobs it makes redundant.

Acquisitions

In January, 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.

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.

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. In addition, in December 2018, Solteq Finance Oy, Solorus Holding Oy and Qetlos Oy launched the merger process at Solteq Plc to simplify the group structure. The estimated date for implementation of the merger is 1 April 2019.

After the end of the financial year, Solteq Plc has initiated a merger process to merge Analyteq Oy into Solteq Plc. The estimated date for implementation of the merger is 1 July 2019. In addition, it has been arranged that Solteq Digital UK Limited is in direct ownership by Solteq Plc from 1 January 2019 onwards. Previously, Solteq Digital UK Limited was a subsidiary owned by Solteq Denmark A/S.