Siili Solutions Plc accelerates the implementation of its strategy by purchasing a majority stake of Integrations Group Oy
Siili Solutions Plc press release 18.11.2024 at 10.00
Siili Solutions Plc has today 18 November 2024 signed an agreement to purchase 51% of the Finnish Integrations Group Oy. Integrations Group is a company specialized in integration projects and services. It is located in two Finnish cities, Espoo and Tampere.
The execution of the transactions is subject to certain customary preconditions, and it is expected to be completed around the year-end. Siili is committed to purchasing the remaining shares in parts during the coming years under conditions agreed in more detail in the agreement.
Integrations Group has 13 employees. The company’s sales in 2023 was EUR 2.3 million and EBIT EUR 0.4 million. After the deal is completed, Integrations Group will continue to operate as its own company, under its own brand.
By purchasing a majority stake of Integrations Group, Siili is implementing the strategic goal of expanding business in growing market of data and generative AI.
“The amount and value of usable data in organizations continues to grow as the artificial intelligence revolution progresses. AI tools also enable higher productivity and speed in digital development than before, whereby new services and applications are built at an accelerating pace. In these increasingly complex IT environments, our customers need solid integration expertise for support in order to utilize data and artificial intelligence in the best possible way,” says Siili’s CEO Tomi Pienimäki.
“The need for integrations continues to grow due to many different factors. Integrations Group has grown rapidly to its current size and administrative tasks began to take the focus away from the core issues. Supported by Siili, our ability to deliver and our sales force will accelerate growth, and we can focus on what we are the best at: implementing integrations,” says Integrations Group’s CEO Petri Ahveninen.
For more information:
Tomi Pienimäki, CEO, Siili Solutions
Phone: +358 (0)40 834 1399, email: tomi.pienimaki(at)siili.com
Petri Ahveninen, CEO, Integrations Group
Phone: +358 (0)40 505 1419, email: petri.ahveninen(at)integrations.fi
Distribution:
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www.siili.com/en
Siili Solutions in brief:
Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc’s shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005. www.siili.com/en
