Csolutor Oy has been acquired by Sofigate Group Oy

Sofigate Group Oy has acquired Csolutor Oy. The transaction follows Sofigate’s recent acquisition of Headstart in January 2018, and together the two companies forms Softgate’s new Business Technologies business area focusing on cloud-based business solutions.

Csolutor, an expert in business solutions consulting, was founded in 2002 and has achieved strong growth – in the last seven years the company has multiplied its revenues to reach 7 million euros.

According to Sofigate CEO Sami Karkkila, the Nordic market has a strong demand for companies that are able to offer both a strong knowledge in technology and management of change under one umbrella. ”Business technology is evolving at an unprecedented pace. To ensure that technology is beneficial to business, you need an operator that understands the possibilities of technology and the importance of management of change. This is a distinctive combination that Sofigate possesses – and we constantly complement our knowledge. Known as a high-quality business solutions consulting expert, Csolutor fits our entity excellently.”

Within the recent years, Sofigate has accelerated its growth and announced that it will invest a total of 50 million euros in acquisitions. Now Sofigate is making efforts to develop cloud-based business solutions and brings in Csolutor’s strong knowledge in Oracle, NetSuite and Salesforce technologies to support SAP expert Headstart. Together the two companies form the Sofigate Business Technologies business area.

Timo Jarhos, who has been CEO of Csolutor since 2009 believes that, together with Sofigate, the company can further boost its steady growth, serve its clients even better and affect the development of its industry. ”Csolutor has achieved a lot and earned its clients’ trust. Now it is time to go bigger and be involved in affecting the industrialization of our sector. Sofigate has been the first operator to understand how to combine management and technology. This approach is essential for the clients amid this technological revolution”, says Timo Jarhos.

After the Csolutor acquisition, Sofigate employs 520 employees and has a pro forma revenue of over 80 million euros. Sofigate’s goal is to achieve a revenue of 150–200 million euros by 2020, which means employing over 1000 new persons.

ProMan IMAP Finland acted as the sellers’ advisor in the acquisition.