Solteq Plc: Solteq and Azets have completed the business transfer – Solteq’s Microsoft BC and LS Retail based ERP business transferred to Azets

Press Release
May 2, 2023, at 11:30 a.m. (EET)

The transaction, whereby Solteq’s ERP business based on Microsoft Dynamics 365 Business Central and LS Retail solutions were sold to Azets, has been completed today. The company announced the signing of the business transfer agreement on April 17, 2023.

The transferring business consisted of the clientele related to Solteq’s Microsoft Dynamics 365 Business Central and LS Retail ERP solutions and approximately 60 experts located in Finland, Sweden, Norway, and Denmark.

The fixed purchase price of the business is EUR 15 million deducted by the net working capital of the business. EUR 12 million of the fixed purchase price was paid on the completion of the transaction. The remainder of the fixed purchase price will be paid at the latest six (6) months after the completion of the transaction. A possible additional purchase price is a maximum of EUR 5 million, and it shall be determined based on the revenue of the transferring business for a period of twelve (12) months from the first date of the month the transaction has been completed.
 

Further information:

CEO Aarne Aktan
Tel. +358 40 342 4440
Email: aarne.aktan@solteq.com

Solteq in brief

Solteq is a Nordic software solution and expert service provider specializing in retail and energy sectors and needs related to e-commerce. The company employs approximately 550 professionals and has offices in Finland, Sweden, Norway, Denmark, Poland, and the UK.