Solteq builds on its services to large industrial companies - Solteq acquires 100% of Artekus Oy’s shares
27.01.2006, IT solutions and services provider for retail and industry sectors, Solteq Plc, has signed an acquisition deal on 26.01.2006 over the entire share capital of Artekus Oy, a company specialising in providing maintenance and material control information systems and services for the industry sector. The shares are acquired from three private individuals. Artekus Oy will transfer into Solteq Plc’s ownership and will form a part of its group of companies with effect from 01.02.2006.
Artekus Oy is the market leader of industry’s maintenance systems in Finland. Since 1987, the company has delivered hundreds of maintenance and material procurement control systems to different sectors. Through this acquisition, Solteq’s position as an IT provider for large industrial companies will strengthen. Artekus Oy has approximately 350 customers.
Common goals and resources for customers’ benefit
Solteq’s Managing Director, Jorma Hänninen: “Through the merger, we will be the leading provider of maintenance and material procurement control systems in Finland. In addition, both enjoy a long-term cooperation with customers based on superior know-how and common goals to expand regionally across national borders. By combining our resources, we are creating the possibilities to carry out projects in large-scale, improve research and development and our ability to serve large companies will be significantly enhanced.”
Managing Director of Artekus, Jouko Kiiveri, adds: “Together, Artekus and Solteq can serve common and new customers even better and more widely than before. Our operational methodology and goals are appropriately similar, so we believe that the merger will bring significant benefits to our customers.”
Solteq acquires 44 staff and business operations worth EUR 4.5 million
Artekus Oy ’s turnover in 2005 was EUR 2.7 million, according to preliminary figures, with a pre-tax profit of EUR 0.35 million. The company holds EUR 1.5 million of its own equity.
In addition, Artekus Oy acquired the maintenance and material procurement business operations for the forestry industry and PowerMaint from TietoEnator in December 2005. These business operations have transferred to Artekus Oy ’s ownership with effect from 01.01.2006. The turnover of the business operations that transferred to Artekus Oy is estimated at EUR 1.8 million in 2005. Overall, Solteq Plc is acquiring business operations with an estimated turnover of EUR 4.5 million in 2005. The acquisition is estimated to bring a significant positive effect on Solteq´s profit in 2006.
Artekus Oy has 44 members of staff after the business acquisition from TietoEnator.
The acquisition will have no impact on the personnel´s status in either of the companies.
The price will be paid to sellers by giving 990,090 of Solteq Oyj´s shares and no more than EUR 1.9 million in cash. The final cost of acquisition is dependant on Artekus Oy’s level of own equity as shown in the interim end of accounts statement due on 31.01.2006. All payments are expected to be concluded by 15.03.2006.
Solteq is an IT solutions and service provider to companies in the trade and industry sectors. The company´s turnover in 2005 was EUR 21,6 million. With over 20 years of experience, operations based on strong know-how and working partnerships as well as the use of international systems and technology creates added value and a competitive edge to its customers. Further information from: www.solteq.com.
Based on the number of deliveries, Artekus Oy is the most experienced maintenance and material procurement systems’ provider in Finland. Over the last 18 years, Artekus has launched hundreds of maintenance and material control operations systems to different sectors, utility systems and hardware platforms. In addition to operation control systems, Artekus develops tools for, among others, mobile maintenance, information acquisition for investment projects and information harmonisation. Further information from: www.artekus.fi.
- Contact Information
- Jorma Hänninen
- Managing Director
- Solteq Oyj
- Contact via E-mail
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