Telia Company acquires the Finnish ICT company Inmics Oy
Dec 18, 2017
Mon, Dec 18, 2017 08:00 CET
Telia Company acquires 100 percent of Inmics Oy, a Finnish ICT company with a strong regional presence, at an enterprise value of EUR 75 million on a cash and debt free basis. The transaction will further strengthen Telia Company’s product portfolio with a competitive offer of IT equipment and services targeting the Finnish SME segment.
Inmics was founded in 1989 and has approximately 190 employees. The company is positioned as a local ICT-partner and acts as a reseller of workstations, IT-equipment and software and related managed services. Based on the 2016/17 results, the purchase price corresponds to an EV/EBITDA multiple of 11.7x and a multiple of 9,7x including synergies that is expected to fully materialize from 2019.
Inmics will continue to operate as an independent subsidiary of Telia and start a close strategic cooperation with the recently acquired ICT service company Nebula. Together they will offer a full portfolio of ICT solutions to SME companies throughout Finland.
“We warmly welcome Inmics, with its employees and customers, to the Telia Company family. We are very excited about this transaction as it fits well with the recent acquisition of Nebula and it will further strengthen our Finnish enterprise proposition,” says Johan Dennelind, President and CEO of Telia Company.
The acquisition of Inmics Oy is subject to approval from the Finnish Competition and Consumer Authority and is expected to be completed in the first quarter of 2018.