EFECTE PLC - PRESS RELEASE -- 21 August 2023 at 17.45
Efecte Plc: Efecte acquires Requeste business from Sysart Oy
Efecte helps people to digitalize and automate their work and aims to become the Leading European Alternative in service management. Efecte has today signed a business purchase agreement with Sysart Oy concerning the acquisition of all assets relating to its Requeste business.
Requeste is a ticketing, customer service and ITSM solution with strong footprint in Finnish midmarket customers. Requeste business currently has four employees in Oulu, Finland and its net sales in 2022 were approximately 500 thousand euros, over half of which SaaS. The business is profitable and expected to bring positive EBITDA contribution from closing.
"We see an increasing trend of consolidation in the service management market. Joining forces with the Requeste team is a natural step in accelerating our growth also through market consolidation.
Requeste customers can expect continuing and enhanced support from the whole Efecte team, including the talented Requeste team now joining forces with us. Customers will benefit from the broader set of products and services we can offer, including an opportunity to expand to broader use cases on the Efecte service management platform.
Requeste's strong customer base in Finland and the team's culture blend well with Efecte's, and we see lots of opportunities for working well together. I warmly welcome the Requeste team to Efecte" notes Niilo Fredrikson, CEO of Efecte.
The acquisition has been signed today 21 August 2023 and is expected to be closed on 1 September 2023 subject to customary closing conditions, including approval by largest customers of the Requeste business. The net purchase price of approximately EUR 360 thousand is payable from the Company's cash assets in two tranches upon closing and in May 2024.
Further enquiries:
Tatu Paavilainen, Head of Legal and M&A,?+358?400?383 064
Efecte Plc
Efecte helps people to digitalize and automate their work. Customers across Europe leverage our cloud service to operate with greater agility, to improve the experience of end-users, and to save costs. The use cases for our solutions range from IT service management and ticketing to improving employee experiences, business workflows, and customer service. We are the European Alternative to the global goliaths in our space. Our headquarters is located in Finland and we have regional hubs in Germany, Poland, Spain and Sweden. Efecte is listed on the Nasdaq First North Growth Market Finland marketplace.
www.efecte.com
