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Press release
January 3, 2022, at 9:00 a.m.
Solteq Plc has today signed an agreement to purchase the entire share capital of the energy software company Enerity Solutions Ltd. Through the acquisition, Solteq is expanding its software offering in the Utilities sector, which is one of the company’s key growth drivers in the Nordic market. The deal also further increases the company’s expertise in the changing operating environment of energy sector. Enerity Solutions specializes in software solutions for electricity trading and grid profitability and risk management. The debt-free purchase price of the acquisition is up to EUR 4.5 million.
Solteq’s Utilities business area provides core business systems and expert services for the energy sector. As a result of the acquisition, Solteq Utilities will have nearly 150 employees working in the Nordic countries. The acquisition will enable the company to provide an even wider range of software solutions, along with significant growth opportunities in international markets.
“The acquisition is part of Solteq Utilities’ growth strategy. Enerity Solutions’ software products and expertise in the changing electricity market will strengthen our position and promote our internationalization. The increasingly versatile offering creates added value for our customers and our growing team of experts,” says CEO of Solteq Plc Olli Väätäinen.
In 2020, Enerity Solutions Ltd had a turnover of EUR 1.9 million and an operating profit of EUR 0.2 million. The company’s business developed positively during 2021. In 2021, Enerity Solutions had a turnover of approximately EUR 2.2 million and an operating profit of EUR 0.3 million. Recurring revenue accounted for approximately 50 per cent of Enerity Solutions Ltd’s revenue in 2021. Enerity Solutions’s key figures for 2021 are unaudited.
“Enerity Solutions Ltd is the market leader in solutions for electricity sales pricing and strategic planning of electricity network business. Together with Solteq, we can offer our clients even more comprehensive solutions and resources for projects and product development. We look forward to being part of Solteq’s successful and internationalizing Utilities business,” says Enerity Solutions CEO Jarmo Roiha.
Further information:
CEO Olli Väätäinen
Tel. +358 50 557 8111
Email: olli.vaatainen@solteq.com
CFO Kari Lehtosalo
Tel. +358 40 701 0338
Email: kari.lehtosalo@solteq.com
Solteq in brief
Solteq is a provider of IT services and software solutions specializing in the digitalization of business and industry-specific software. The key sectors in which the company has long-term experience are retail, manufacturing, utilities, and services. The company employs over 650 professionals with offices in Finland, Sweden, Norway, Denmark, Poland and the UK, with a customer base throughout Europe.