Aico and Mercur Merge to Form Comprehensive Suite of Solutions for the Office of the CFO

STOCKHOLM and HELSINKI, Feb. 26, 2025 /PRNewswire/ -- Accel-KKR, a global technology-focused investment firm, having completed a majority equity investment in Mercur Solutions ("Mercur"), a leading provider of performance management solutions for mid-sized and large enterprises, today announced Mercur´s merger with Aico, a financial close software platform for mid-market and large enterprises.

The merger of Aico and Mercur brings together best-of-breed solutions providers to form a foundational platform as part of the business strategy to serve the Office of the CFO. Aico is known for its financial close capabilities, whereas Mercur helps finance teams budget, forecast, report and analyse company financial data. By integrating Mercur's powerful corporate performance management (CPM) capabilities with Aico's seamless financial close platform, the joint companies aim to deliver an end-to-end platform that streamlines financial operations, improves accuracy, increases visibility and drives strategic decision-making for CFOs and their teams.

"CFOs and finance teams today operate in increasingly complex businesses and dynamic environments. Finance professionals need financial software that works hard and works smart – through automation, strong integrations, and complete insight into data – so they can make faster, better decisions and stay one step ahead of business. This partnership brings together two best-of-breed solutions to address the critical needs of modern finance teams," said Ulf Alkelin, CEO of Aico and Mercur.

Along with an expansion in product offerings, the companies also will see an expanded customer footprint, spanning the Nordics, United Kingdom, Ireland, BENELUX, and DACH. The geographic expansion ensures localised support and coverage of regional needs, while the ability to upsell and cross-sell solutions provides customers with a more comprehensive suite of tools to drive strategic decision-making and business growth.

Maurice Hernandez, managing director at Accel-KKR and a board member of Aico and Mercur quoted, "This merger represents a step forward in our overall goal to be a powerful end-to-end platform that serves the Office of the CFO. We are excited to bring the two companies together, and we look forward to providing support as the business grows."

The joint companies will be led by Mercur CEO, Ulf Alkelin and supported by an integrated management team comprising leaders from both companies. Aico CEO Marko Voutilainen will transition to a Senior Advisor role to the board.

"I have long seen the growth potential in Aico, and we catalysed that growth with Accel-KKR's investment in Aico in 2024, and now this merger with Mercur, a well-respected financial performance software leader," said Voutilainen. "This is an exciting time as Aico and Mercur come together and deliver an innovative financial platform to the market. As a Senior Advisor to the board and shareholder in these companies, I wish Ulf and the team good luck, and I am incredibly excited about the possibilities ahead."

About Aico Group:

Aico is an advanced financial close platform for mid-market companies and enterprises. Aico helps companies take control of their hectic closing processes, empowering financial teams and freeing time for other important activities. Its customers, including leading European enterprises, achieve a high level of automation and standardisation of processes, faster month-end financial reporting, and assurance of compliance and data accuracy. Established in 2019 in Espoo, Finland, Aico has offices in Finland, Germany, the UK and Latvia. For more information, visit www.aico.ai.

About Mercur Solutions:

Mercur Solutions is a leading provider of Corporate Performance Management (CPM) solutions for mid-sized and large enterprises. Our cloud-based platform, Mercur Business Control, enables organizations to optimize their Financial Planning & Analysis (FP&A) and Extended Planning & Analysis (xP&A) processes, including budgeting, forecasting, planning, and reporting. By leveraging automation and advanced analytics, we empower businesses with deeper financial insights and enhanced operational efficiency. Founded in Sweden, Mercur Solutions has been at the forefront of innovation in financial management for 50 years. With offices in Sweden and the UK, we continue to support organizations in achieving greater control, accuracy, and agility in their financial operations. For more information, visit www.mercur.com or contact us directly.

About Accel-KKR:

Accel-KKR is a technology-focused investment firm with $21 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses well-positioned for top-line and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR's headquarters is in Menlo Park, with offices in London, Atlanta, Chicago and Mexico City. Visit accel-kkr.com to learn more.

Media Contacts:
For Swedish Media: Johanna Mangsbo, Marketing Manager at Mercur Solutions, Phone: +46 (0)70 556 77 98, email: Johanna.mangsbo@mercur.com
For All Other Media Inquiries: Asif Muhammad, Chief Marketing Officer at Aico, Phone: +44 7883261508, email: Muhammad.asif@aico.ai

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