STOCKHOLM, June 10, 2019 /PRNewswire/ -- Elisa and owners of Swedish Polystar OSIX AB group have signed an agreement in which Elisa acquires 100 per cent of Polystar's shares. Polystar is a global provider of analytics, assurance and monitoring software solutions for mobile operators. Combining Polystar's analytics expertise with Elisa's automation capabilities enables the development of new and innovative services internationally.
The acquisition price is EUR 70 million (cash and debt-free EV). The agreement includes also an additional acquisition price, max EUR 5 million, if growth targets are achieved. Polystar's revenue was SEK 395 million and EBIT SEK 68 million (fiscal year ending April 2019, unaudited).
Mikael Grill, CEO of Polystar, says: "Elisa Automate has a unique vision for mobile network automation. Joining Elisa offers us more resources for innovations and development. Our products are already being used by more than 100 operators globally, and we look forward to strengthening our offering further, bringing significant value to our customers."
Polystar's strong global customer operations provide international reach for Elisa Automate innovations. The transaction is consistent with Elisa's strategy to grow digital businesses internationally and Polystar will continue as a subsidiary of Elisa.
Kirsi Valtari, VP Elisa Automate says: "Polystar is a recognised telco software company with market leading analytics and service assurance offering, skilled experts and international customers, which will accelerate the Elisa Automate business. By joining forces, Polystar's customers will benefit from more resources, strengthening the product portfolio further with innovative solutions based on machine learning and automation."
Polystar enables Communications Service Providers to achieve excellence in Customer Experience Management, Big Data Analytics, Service Assurance, Network Monitoring and Service Enablement. We help CSPs to simplify their CEM strategies and drive operational efficiency through real-time network analytics. Polystar's real-time Network and Customer Insights uncover a goldmine of data, which yields indispensable analytics to CSPs. Polystar is recognised as one of the fastest-growing companies in Sweden. Since our foundation in Stockholm in 1983, we have experienced continuous and sustainable growth, and evolved to a global presence, serving our customers in over 50 countries.
For more information, please visit www.polystar.com
About Elisa Automate
Elisa Automate offers solutions and services for mobile operators to automate network management and operations. The value promise is to improve service quality and operator cost efficiency. With Elisa Automate solutions, network activities can be fully automated, allowing experts to focus on more value-creating development tasks. Mobile operators can efficiently and effortlessly analyze and better understand their networks and customer experience. Utilizing machine learning technologies, Elisa Automate brings advanced predictive analytics and preventive maintenance to the networks. Leading the way in efficiency, Elisa Automate solutions ensure that operators get maximal benefit out of their networks and investments.
For more information, please visit elisaautomate.com
Elisa is a pioneer in telecommunications and digital services. We serve approximately 2.8 million consumer, corporate and public administration organisation customers, and have over 6.2 million subscriptions in our extensive network. Cooperation with Vodafone and Telenor, among others, enables globally competitive services. Our core markets are Finland and Estonia, and we also provide digital services for international markets. Elisa's shares are listed on the Nasdaq Helsinki. In 2018, our revenue was EUR 1.83 billion euros, and we employed 4,800 people. As a responsible Finnish market leader, our operations are guided by continuous improvement.
Further information on www.elisa.com, Facebook (@elisasuomi) and Twitter (@ElisaOyj)
Ms. Kirsi Valtari, Vice President
Mr. Mikael Grill, Chief Executive Officer