Etteplan strengthens its software capabilities by acquiring Eatech Oy
Etteplan Oyj Stock Exchange Release May 15, 2018 at 9.00 a.m.
Etteplan Oyj strengthens its digital services and software capabilities by acquiring Eatech Oy. The acquisition is in line with Etteplan’s growth strategy, which has at its heart organic growth and the strengthening of expertise through acquisitions.
Eatech, founded in 2006, specializes in software and mobile solutions, service design, testing services and also offers continuous services for maintaining business critical systems. In 2017 Eatech’s revenue was some EUR 7.5 million, and it has customers in many different industries. Eatech currently employs more than 100 experts.
Through the acquisition, Etteplan will significantly strengthen its capabilities to deliver comprehensive digital solutions and software. The acquisition is a continuation to investments in digitalization and software development as well as to the acquisition of Soikea Solutions Oy in 2016. Etteplan combines all engineering services needed by industrial clients, such as equipment and plant engineering services, embedded systems and IoT (Internet of Things), and technical documentation solutions.
”The market for industrial IoT is expected to grow significantly in Etteplan’s key customer industries. The acquisition of Eatech is in line with our growth strategy, which has at its heart organic growth and the strengthening of expertise through acquisitions. Along the acquisition, Etteplan now employs more than 3 000 experts”, says Etteplan’s President and CEO Juha Näkki.
Etteplan has a total of 700 experts working in different fields of embedded systems and IoT, 200 of which are specialized in software based digitalization solutions.
”Etteplan with its more than 3,000 employees offers us a wider clientele and many new opportunities to develop the know-how of our personnel. Together with Etteplan and Soikea we form a notable operation of digital services and software development experts, says Esa Mäkelä, CEO, Eatech.
”The acquisition of Eatech strengthens significantly Etteplan’s credibility as an agile software developer. Our know-how is strengthened especially in software solutions for digitalization, application development and cloud solutions. Going forward Etteplan will be able to challenge the other operators in the market and offer IoT-services to industrial customers”, says Juha Näkki.
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Communications and Marketing, tel. +358 40 512 1375
Etteplan provides industrial equipment and plant engineering, embedded systems, IoT (Internet of Things), and technical documentation solutions to the world’s leading companies in the manufacturing industry. Our services are geared to improve the competitiveness of our customers' products and engineering processes throughout the product life cycle. The results of Etteplan’s innovative engineering can be seen in numerous industrial solutions and everyday products.
In 2017, Etteplan had a turnover of approximately EUR 215 million. The company currently has over 2,800 professionals in Finland, Sweden, the Netherlands, Germany, Poland and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com