Dustin to acquire Finnish supplier of network solutions
Dustin has signed an agreement to acquire Resolute ISMS Oy, one of Finland’s leading suppliers of network solutions to private and public sectors. Through this acquisition, Dustin will further strengthen its position in the Finnish market and its offering throughout the Nordic region. Resolute had sales of EUR 12 M in 2014, with a good level of profitability. The company will be integrated into Dustin’s Finnish operation, Businessforum. Completion is subject to the parties gaining comfort in key customer relationships. The transaction is expected to close in May.
Resolute offers complete solutions that include everything from hardware, through the largest manufacturers, to configuration and support of network solutions.
”We see three significant market trends. The online shift, by which an increasingly large share of purchasing is migrating to the net, stronger growth in the small and medium-size enterprises segment compared with the market in general and an increased demand for more advanced services and products,” says Georgi Ganev, CEO of Dustin. “The acquisition of Resolute strengthens our position in more advanced services and products by adding new competence to the entire Group. In addition, we are reinforcing our position in Finland and creating the conditions for growth with new customers and a broader offering in all of our markets.”
Resolute, which was founded in 2010, is acquired from the current management, which will remain active in the company. In 2014, the company had sales of EUR 12 M and now has 17 employees. Resolute is one of Finland’s leading suppliers of network solutions, with a considerable majority of customers in the public sector.
”As part of Dustin, we will have the possibility to reach new customers and together, we can continue to develop and strengthen our offering. Dustin’s strong position in the Nordic region and broad offering of products with associated services and solutions suits us well and will help us to successfully serve our customers in the future,” says Kari Vähämäki, CEO of Resolute
Resolute will continue to operate under its own name until further notice and the integration into Businessforum will commence immediately. The purchase price consideration, consisting of initial consideration and additional consideration based on future financial result, will not be made public. The acquisition is estimated to have a marginally effect on Dustin’s earnings per share during the current financial year.
Dustin will hold a teleconference for investors, analysts and the media on 13 May at 11:00 CET The conference call will be held in English.
Telephone number: +46 (0)8 566 194 84 or +44 (0) 1452 589509
Conference code: 47128148
For further information, please contact:
Georgi Ganev, CEO
Niklas Alm, IR Manager
email@example.com, +46 (0)70 824 40 88
This information is such that Dustin Group AB (publ) is required to disclose in accordance with the Swedish Financial Instruments Trading Act and/or the Swedish Securities Market Act. The information was submitted for publication at 07:45 CET on May 13, 2015.
About Dustin Group
Dustin Group is one of the leading Nordic resellers of IT products and additional services to companies, the public sector and private individuals. Having its core business within e-commerce, Dustin functions as a bridge between the manufacturer’s large selection and the customer’s needs where Dustin’s employees help customers find the right solution for their needs.
Dustin Group is a one-stop-shop that offers approximately 200,000 products with associated services, functions and solutions. The operation is conducted in Sweden, Denmark, Norway and Finland. Besides Dustin and Dustin home, the Group also includes Businessforum (Finland) and IT-Hantverkarna (Sweden).
Dustin Group has more than 900 employees. Sales during the 2013/14 financial year amounted to approximately SEK 7.4 billion. About 90 per cent of Dustin’s income derives from the corporate market with a focus on small and medium companies. Dustin Group is listed on Nasdaq Stockholm since 2015 and has its head office in Nacka in Stockholm.