Sale of Csolutor to Sofigate Group

Csolutor is a leading provider of Oracle and Salesforce cloud-based business application integration services in Finland.

The Company’s solutions are used mainly for customer experience, customer relationship management, enterprise resource planning and human resources management areas. Csolutor was founded in 2002 and it has achieved strong growth – in the last seven years the Company has multiplied its revenue to reach 7 million euros. The Company’s business model is based on covering all phases of business application projects, wide solutions portfolio, extensive know-how, and being a trusted partner for both Finnish and international customers.

Our main value creation components were:

• Positioning the company in a right way to high light key value drivers
• During the M&A process, Carner conducted an extensive buyer search in order to find the best strategic partner to ensure that the Company’s value is maximized and that an optimal outcome is achieved

Acquisition of Csolutor was a natural continuum to Sofigate’s previous acquisition of SAP expert Headstart. The two companies will be merged to create a new Business Technologies business area with 20 million euros in revenue.

Having a strong new owner, Csolutor can further boost its steady growth, serve its clients even better and affect the development of the industry.

After the Csolutor acquisition, Sofigate employed 520 employees and has a pro forma revenue of over 80 million euros.

Sofigate

Sofigate is an IT and Business Technology management company, which provides expertise in strategy transformations, technology solutions and management power. Sofigate was founded in 2003 and employs more than 500 people in Finland, Sweden, Denmark and UK.