Solteq Plc selling its SAP ERP business to Enfo Oyj

Stock Exchange Bulletin 30.12.2019

On December 30, 2019, Solteq Plc signed a business transfer agreement, whereby the company's SAP ERP business, including its current employees and customers, will be transferred to Enfo Oyj, effective on January 1, 2020. 

The debt-free purchase price of Solteq's SAP ERP business is EUR 4.275 million, which will be paid in cash by March 15, 2020. The company will recognize the estimated, additional one-time profit of EUR 2.3 million for the fiscal year 2019. 

Following the SAP ERP asset deal, Solteq will focus even more on the development of its own software products and on expert services based on selected client products. Solteq's SAP ERP projects employ 21 experts, who will be transferred to Enfo under their existing employment terms.

In 2019, Solteq's SAP ERP business sales is approximately EUR 4 million. 

Distribution:

NASDAQ OMX Helsinki
Key media
www.solteq.com

Further information:

CEO Olli Väätäinen
Tel: +358 50 5578 111
Email: olli.vaatainen@solteq.com

CFO Kari Lehtosalo
Tel: +358 40 701 0338
Email: kari.lehtosalo@solteq.com

About Solteq:

Solteq is a Nordic provider of IT services and software solutions specializing in the digitalization of business and industry-specific software. The key sectors in which the company has long term experience include retail, industry, energy and services. The company operates in Finland, Sweden, Norway, Denmark, Poland and the UK and employs 600 professionals.

www.solteq.com