Growth Investment in Digital Commerce: Solteq Plc Makes a Niche Acquisition to Boost the Launch of eCommerce Practice and Buys Pardco Group Inc.
HELSINKI, Finland, Dec 20, 2016 /PRNewswire/ --
Solteq Plc Stock Exchange Bulletin 20.12.2016 at 3.05 pm
Solteq has acquired the entire share capital of Pardco Group Inc. The company acquisition is part of the digital commerce growth strategy that Solteq published earlier this year. One step forward on growth path was the decision to invest in the Nordic mid-market omnicommerce growth by launching Magento Practice. Omnicommerce means a retailing strategy that delivers a seamless customer experience through all available shopping channels – from brick-and-mortar shops to online stores and mobile. In this environment, it is essential that all the systems in the retail chain work seamlessly together, starting from the customer encounter all the way to supply chain management and digital marketing.
The new omnicommerce competence center complements Solteq's existing omnicommerce solution offering, which is at its best for large or global clients in retail or wholesale. Magento Practice, which was launced in autumn 2016, will bring another strong pillar for Solteq's offering of digital commerce solutions, serving especially mid-market Nordic retail and wholesale customers.
The company acquisition enhances the Magento technology expertise of the omnicommerce competence center by 8 people. In addition, SaaS-based eCommerce to small and mid-market clients, called Magentokauppa.fi, will be transferred to Solteq's ownership. The parties of the acquisition do not share the value of the deal in details.
The omnicommerce competence center for mid-market clients has been built during the past few months by recruiting Magento technology experts and offering job circulation opportunities to Solteqians. In October, we announced that we would recruit 40-50 employees for this business area in Finland or in Sweden in the next 12 months. The acquisition of Pardco completed and signed today will increase the number of personnel in the Magento Practice to 15. Demand for omnicommerce solutions designed for mid-market clients has been active, and Solteq intends to continue growing the business in 2017 as planned.
Shared will to grow in the digital commerce
The parties to the deal share a will to grow in the strategically important area.
- The acquisition of Pardco will increase the coverage of our digital commerce solutions offering. We have already been able to offer eCommerce, back end systems, digital marketing and design to global and large clients. Today, we are able to offer the same to mid-market wholesale and retail clients. An especially important result of the acquisition is the synergy between eCommerce and digital marketing, which will certainly benefit mid-market clients, states Juha Luomala, Vice President, Service Development from Solteq Plc.
- We want to be part of a growth story. We will be in the strategic core of a significantly bigger player in the industry, which will create interesting prospects for all of us. New clients, bigger projects and more versatile growth paths are just some of the reasons why our team is so excited, Pardco Group Inc's CEO Janne Tiainen explains.
Profit guidance
Solteq Plc makes no changes to its profit guidance and expects its revenue to grow significantly from the 2015 level. The operating profit and the operating profit before non-recurring items are also estimated to grow from the 2015 level.
Additional Information
Juha Luomala, VP, Service Development, Solteq Plc
Tel - +358 50 539 9323
E-mail- juha.luomala@solteq.com
Janne Tiainen, CEO, Pardco Group Inc.
Tel - + 358 358 20 729 9859
E-mail- janne.tiainen@pard.co
Press release 5.10.2016: Solteq to invest in growth – Magento Practice for delivery of eCommerce solutions to be lauched (https://www.solteq.com/en/investors/releases-and-publications/releases/solteq-invest-growth-magento-practice-delivery-ecommerce-solutions-launched/)
Distribution
NASDAQ OMX Helsinki
Key Media
www.solteq.com
Solteq in Brief
Solteq is a digital commerce expert. We offer total solutions for omnicommerce, from back end processes all the way to the purchasing experience of the customer and from supply chain management to digital marketing. Our passion is to deliver the unexpected to our clients – in the fast changing world, you need a partner that can deliver today what you will need tomorrow. We employ about 500 experts in three countries and make deliveries to Europe, North America, Asia and Australia. In 2015, our annual net sales amounted to 54 million euro.
Pardco in Brief
Pardco Group Inc.is an agile ICT company that specializes in Magento eCommerce development and maintenance. We help our clients implement a long-term eCommerce plan. We believe that the key to a successful implementation is a trusting relationship between the client and the supplier. Our revenue is about 0.5 million euro.
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