Bilot and CastorIT merge to strengthen their position as a full-stack digital business powerhouse
Bilot Oyj and CastorIT Oy
Press release 17 August 2020 at 4.45 p.m. EEST
Finnish software and IT service company Bilot signed an agreement to purchase all the shares in CastorIT, a company that specializes in SAP solutions. With the merger the companies will strengthen their market position as a full-stack developer of digital business and a recognized SAP expert. After the merger, the company’s name will be Bilot Oyj.
Established in 2010, CastorIT is a Finnish IT service integrator with strong expertise in the development of core business processes and SAP-enabled lifecycle services. In 2019, CastorIT’s turnover was EUR 7.3 million and operating profit was EUR 0.9 million. The company has approximately 60 employees.
Bilot is a major player on the Finnish market of leading software platforms and key technical ecosystems (such as SAP and Microsoft), including their seamless integration with the customer’s business. Bilot has approximately 140 employees in Finland, Sweden, and Poland. In 2019, Bilot Group’s turnover was EUR 18.5 million and earnings before interest, taxes, and amortization (EBITA) EUR 1.7 million.
The combined customer base of CastorIT and Bilot and the extended service selection will create new opportunities for Bilot’s growth in the development of core business processes for both Finnish and international SAP customers. After the merger, Bilot will have over 200 employees, who will have improved opportunities for professional development and new career paths.
Comments from Mika Tanner, Bilot CEO:
“This year, we have all seen how important operative reliability and flexibility are for companies. From the point of view of customer experience, it is crucial under all circumstances to deliver on the promises made, such as in e-commerce. In order to build the digital business of our customers on a solid foundation, we must ensure both a modern user experience and the premium design and implementation of business processes and the system architecture that supports these.
CastorIT’s strong expertise in processes and technologies and its extensive experience in SAP ERP systems complement Bilot’s services in customer experience, sales, marketing, and knowledge-based management. Bilot will continue to implement the strategy it specified in its stock exchange listing in spring 2020, and it is determined to grow its digital business services in Finland and abroad. We are also aiming to increase our turnover to EUR 50 million by the end of 2024.”
Comments from Martti Hietalahti, CastorIT CEO:
“We have served different customers together with Bilot for several years. The cooperation has always been smooth, involving experienced experts from both companies, who work together to ensure a high-quality end result for our customers. Based on these good experiences, it was easy to start discussions on a possible merger of the two companies. The transaction is mainly based on shares, which reflects our commitment to building our future together.
Our customers expect us to help them with business planning and daily operations for several years going forward. With Bilot, we can assume even more responsibility for meeting the expectations of our customers.”
For more information, please contact:
CEO Mika Tanner
Bilot Oyj
Tel. +358 40 544 0477
CEO Martti Hietalahti
CastorIT Oy
Tel. +358 40 566 8905
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Bilot in brief
Bilot is a Finnish software and IT service company that creates strategic competitive edge for companies by developing superior customer experience. Bilot offers its customers a comprehensive range of digital services and solutions for different stages of the customer journey, as well as intelligent sales and marketing tools utilizing artificial intelligence and analytics. The company has recognized expertise in leading technical ecosystems (such as SAP and Microsoft technologies) and their seamless integration with the customer’s business, and it is a major player on the Finnish market. Bilot was born in 2005 out of a passion for creating the best workplace for the best talent in the industry. Bilot has approximately 140 employees in Finland, Sweden and Poland. In 2019, Bilot Group’s turnover was EUR 18.5 million and earnings before interest, taxes, and amortization (EBITA) EUR 1.7 million.
CastorIT in brief
Established in 2010, CastorIT is an expert company that specializes in SAP solutions. The foundation of our work is our committed and motivated team that consists of the best experts in the field. Our mission is to help companies succeed by developing and maintaining their processes and SAP solutions. In 2019, CastorIT’s turnover was EUR 7.3 million and operating profit was EUR 0.9 million. CastorIT has approximately 60 employees.