Solita Backed by Vaaka Partners Acquire Helsinski-based Palmu
Solita, a Finnish digital business consultancy and digital services company, and Palmu, a service design agency, have decided to join forces. Solita has acquired Palmu’s entire share capital. Both companies are top of their fields in Finland, forming a unique combination of nearly 600 experts in a world of service design and digitalisation. The company seeks to continue its profitable growth, both in Finland and on the international markets.
Solita has acquired the entire share capital of Palmu, Finland’s largest and most experienced service design agency. Palmu will become a part of Solita’s corporate structure immediately. All of Palmu’s 62 employees will stay with Solita as their own business unit.
“Our customers’ operating environment is changing. To generate new business, companies need an ever greater degree of customer-driven design, combined with strong technology and data expertise. Joining forces with Palmu is an important step for Solita. Together, we are creating a kind of operator that did not exist before in Finland. We want to lead the ongoing changes in the field, to bring Finnish expertise to the world,” says Solita CEO, Jari Niska.
This merger will create a new kind of strong operator, combining a human, customer-friendly touch, business development expertise, an ability to refine data, and excellence in technology. The companies seek to continue their profitable growth both in Finland and the international markets.
Palmu’s net sales in 2016 amounted to EUR 7.6 million. Palmu was under the ownership of its staff, and these members of staff will be part owners of Solita under this deal. Palmu’s CEO, Peter Barkman, will be inducted into Solita’s executive group. The price of the acquisition is not public.
The companies combined employ over 570 experts in Helsinki, Tampere, Oulu, Stockholm and Singapore. For now, Palmu will continue to operate under its own name, with no interruption to its business. Together, the companies are aiming for nearly EUR 80 million in sales in 2017.
This acquisition helps Solita strengthen its business development and service design competences. Solita’s design, analytics, cloud, integration and software development expertise and Palmu’s service business, service design and service production competences will complement each other magnificently.
“Our lives and the ways we work are all changing. The most significant driving force of this change is technology. We must be empathetic and understand what is both possible and sensible to carry out. At Palmu’s core is influence, and bringing about change in people and organisations. With Solita, we will be able to do this better than anyone else”, says Palmu CEO, Peter Barkman.
“Everything we have starts with people – that includes developing our customers’ businesses”, Jari Niska concludes.
Palmu is a service design agency that helps its customers create new services, better customer experiences and service businesses. Palmu employs over 60 experts in Helsinki and Singapore. Its net sales in 2016 amounted to EUR 7.6 million.
Source Vaaka Partner’s press release