Innofactor Plc Press Release March 17, 2015, at 14:30 Finnish time
Paavo Pakkanen has been hired by Innofactor as the Director, M&A and International Expansion, as of April 2015. Pakkanen will be responsible for Innofactor’s international expansion on areas near Finland and also for acquisitions. He will report to Group’s CFO Janne Martola, who is responsible for acquisitions in the Group’s Executive Board.
Pakkanen is transferring to this position from the Private Equity company Helmet Capital in which he has been working as an Investment Manager for the past four years. He is bilingual and has been involved in several acquisitions and mergers in Finland and Sweden, and he has also worked in the Boards of Directors of acquired companies. Before Helmet Capital, Pakkanen worked for three years in Deloitte in tasks involving consulting and acquisitions. Pakkanen has the Master of Science (Technology) degree.
Innofactor's long-term financial goal is to grow profitably and to achieve an average annual growth of 25–35 percent in 2014–2017 through organic growth as well as acquisitions. Suitable targets for acquisitions are continually searched for in the Nordic Countries.
“We are very happy to get Paavo to complement our team. Paavo has versatile experience on different kinds of acquisitions and working with entrepreneurs, which will support Innofactor’s growth strategy. Also, he has a combination of the kind of know-how, personality and vigor we were looking for in the person we wanted for this position. I am looking forward to our future cooperation,” says Janne Martola, CFO of Innofactor.
Espoo, March 17, 2015
INNOFACTOR PLC
Sami Ensio, CEO
Additional information:
Janne Martola, CFO
Innofactor Plc
Tel: +358 50 359 0844
Sami Ensio, CEO
Innofactor Plc
Tel: +358 50 584 2029
Distribution:
Main media
www.innofactor.com
Innofactor is one of the leading Nordic IT solution providers focused on Microsoft platforms. Innofactor delivers business critical solutions and maintenance services as a system integrator and develops its own software products and services. Innofactor’s own product development is focused on Microsoft’s Windows Azure-based cloud solutions. Innofactor's customers include approximately 1,000 private and public sector organizations in Finland, Denmark, Sweden, and elsewhere in Europe. The company has about 400 motivated and skilled employees in several locations in Finland, Denmark and Sweden. From 2010 to 2014, Innofactor's annual net sales growth has been 45% on average. Leading Finnish business media Kauppalehti and Balance Consulting selected Innofactor as the most successful company on the Finnish stock exchange in 2013. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ OMX Helsinki Oy.