Solteq To Purchase the Majority of Tuko's Store and Inventory Replenishment Services, Thereby Strengthening its Analytics Expertise
HELSINKI, Feb 16, 2017 /PRNewswire/ --
Solteq Plc - Stock Exchange Bulletin 16.2.2017 at 2.25 pm.
Solteq Plc signed an agreement today according to which Tuko Logistics Osuuskunta will incorporate its business operations that focus on store and inventory replenishment into a company to be established, and Solteq will acquire 51 percent of the company if certain conditions for closing the deal are met. After the deal, Tuko will hold 49 percent of the company to be established. The aim is to develop the new company into a significant player in the Nordic market. To ensure a successful launch for the business, the client and supplier contracts of Tuko Logistics are included in the deal.
The store and inventory replenishment service offers a prediction-based supply chain and assortment management solution for businesses of all sizes. The solution is based on the service developed by Tuko and Retail Logistics Excellence - Relex Oy (Relex). Companies such as Tuko, Stockmann and Wihuri already use the solution. The solution helps achieve cost savings through supply chain optimisation, effective use of resources and reduced wastage. Besides, improved product availability enhances both growth in sales and customer satisfaction.
Solteq is an eCommerce expert. Its core business includes online, mobile and brick and mortar solutions for retailers, wholesalers and industrial companies. Solteq believes that in the next few years, businesses will develop their operations towards service purchasing scaled in accordance with demand. This trend will also apply to processes that businesses have traditionally managed themselves, such as store and inventory replenishment. Analytics-based expertise will also play an important role in future business models.
- We see the acquisition as part of a wider entity: On the one hand, the business as such is interesting and has a strong growth potential. On the other hand, this growth investment is an investment in analytics expertise, and it will expand our service business, says Solteq's CEO Repe Harmanen.
- When Solteq's wholesale and retail expertise is combined with the analytics expertise transferred from Tuko, the result will be unique. Our services will help our clients improve their profitability significantly. The store and inventory replenishment services will be produced by specialised top professionals using the best available tools, Ilkka Brander, Vice President of the Customer Solutions segment, explains.
- We have developed this service for several years, and our existing clients are extremely satisfied with it. It is great that highly advanced analytics expertise will be part of Solteq's next growth spurt, Tuko's CEO Juha Viskari says.
- This is an interesting stage in Tuko's and Relex's long shared history. We are excited about this opportunity to participate in the creation of entirely new service business. This business model will enhance the utilisation of Relex solutions as our clients can complement their own expertise with expertise provided as a service in a flexible manner, states Relex's Partnership Director and Co-founder Johanna Småros.
The annual revenue from the operations to be transferred to the new company is about 2 million euro, and a total of 19 employees will transfer to the new company. The parties have agreed not to publish the price of the transaction. The deal is conditional, and Solteq believes that the arrangement will be completed in about two months. A separate announcement on the closure of the deal will be released later.
Additional Information
Ilkka Brander, Vice President, Customer Solutions, Solteq Plc
Tel. +358-50-388-3108
ilkka.brander@solteq.com
Juha Viskari, CEO, Tuko Logistics Osk
Tel. +358-40-517-2020
juha.viskari@tuko.fi
Johanna Småros, Partnership Director, Retail Logistics Excellence - Relex Oy,
Tel. +358-40-543-1142
johanna.smaros@relexsolutions.com
https://www.relexsolutions.com/fi/
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 revenue amounted to 54 million euro.
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