Etteplan acquires a cloud and application software specialist from Poland –a directed share issue to owners of the acquired company

Etteplan Oyj, Stock Exchange Release, June 14, 2021, at 2.00 p.m. EEST

Etteplan has acquired Skyrise.tech, a Polish software development company. The acquisition is in line with Etteplan’s growth strategy as it complements our expertise and increases our international presence. Through the acquisition, Etteplan will significantly strengthen its capability to deliver applications and cloud software solutions. The acquisition is a continuation to investments in digitalization and software development Etteplan has made during the recent years.

Skyrise.tech, founded in 2008, is a fast-growing modern software development company working mostly with customers in logistics, mobility, healthcare and enterprise industries. In 2020 Skyrise.tech’s revenue was some EUR 3.5 million. The acquired company has some 80 software specialists in Katowice and Gdansk in Poland. The parties have agreed not to publish the purchase price.

“The acquisition is an interesting step in our internationalization. It opens many fascinating  growth paths for both Etteplan and Skyrise.tech. After the acquisition Etteplan has four offices in Poland and altogether over 200 employees. Skyrise.tech is selling and delivering projects to customers outside Poland in the Nordics and other countries. This business model fits well with Etteplan’s strategy”, says Juha Näkki, President and CEO of Etteplan.

After the acquisition Etteplan has globally over 700 experts working in different fields of software development and embedded systems, 250 of which are specialized in cloud and applications software solutions.

“The acquisition increases our capabilities and competitiveness in cloud and applications business in Poland and also globally. It clearly strengthens our offering and widens our customer base. Skyrise.tech has interesting customers for instance in Norway which opens up new opportunities for Etteplan”, says Tom Leskinen, SVP, Software and Embedded Solutions, Etteplan.  

“We are happy to be part of Etteplan. Etteplan with its over 3, 400 employees and operations in eight countries offers Skyrise.tech employees interesting opportunities to participate in bigger projects and customers in many industries”, says Jaroslaw Pilarczyk, CEO, Skyrise.tech.

Etteplan first entered Poland in 2016 through the acquisition of embedded solutions specialist Espotel Oy, which in addition to Finland had operations in Poland. Etteplan has since then widened its solutions offering in Poland to cover engineering and technical documentation solutions as well.

A Directed Share Issue to  Skyrise.tech owners

The Board of Directors of Etteplan Oyj has in its meeting held on May 27, 2021 made a conditional resolution upon Directed Share Issue pursuant to the share issue authorization granted to it by the Annual General Meeting of Shareholders' held on April 8, 2021. The Board of Directors shall in its next meeting to be held on June 17, 2021 resolve upon the final terms of the Directed Share Issue, which shall consist a total of 120, 000 new Etteplan shares, and which shall be offered with market price for subscription to owners  of the acquired company Skyrise.tech.

Espoo, Finland, June 14, 2021

Etteplan Oyj
Board of Directors

Distribution:
Nasdaq Helsinki
Major media
www.etteplan.com

Additional information:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Tom Leskinen, SVP, Software and Embedded Solutions, Etteplan, tel. +358 50 558 8942
Outi Torniainen, SVP, Communications and Marketing, tel. +358 10 307 3302