Addnode Group acquires Finnish company Basepoint Oy which will be merged with subsidiary Cad-Q

Press release 27.05.2013

STOCKHOLM, 27 May 2013 - Addnode Group acquires Finnish company Basepoint Oy which will be merged with subsidiary Cad-Q. This merger will strengthen Cad-Q’s capacity and competence within the Finnish infrastructure industry.

The acquisition of Basepoint Oy strengthens Cad-Q’s position in the market and increases the delivery capacity and software development significantly to particularly the Finnish infrastructure industry. At the same time, this supports Cad-Q’s position as the Nordic region's leading supplier of IT systems for building design and infrastructure.

Both Basepoint Oy and Cad-Q’s solutions are based on Autodesk technology. The customer base and customer’s needs, particularly in relation to Building Information Modeling (BIM) in the infrastructure segment, has grown rapidly in recent years. As a result of this growth, the customer demand for suppliers with broader competence has increased substantially and this is the main motive for both parties to merge. Cad-Q and its customers will also benefit from Basepoint Oy’s in-depth software development know-how and own infrastructure product family FIKSU. The acquisition will strengthen Cad-Q's operations in Finland which after the merger will have revenue of approx. 15 MEur and employs 56 professionals.

“Strategically, this is right for the company, for our employees and for our customers. In a world where Building Information Modeling (BIM) is becoming the norm and our customers' need of good advice is growing, the access to Cad-Q with their Finnish and Nordic organization will help us progress. We are also looking forward to offering a wider range of solutions in a more cost-effective way and concentrate on software development of own product range. In this way, we will meet the growing customer needs in the market. We are looking forward to presenting and discussing this with our customers in the near future“, says Timo Väyrynen, Development manager, Chairman of the Board, Basepoint Oy.

“We at Cad-Q are very pleased to have Basepoint and their talented employees with us to build an even stronger knowledge based organization. Basepoint’s know-how of the infrastructure industry will strengthen our position and will allow us to increase our presence on this market. Furthermore, it will also give us an opportunity to contribute to our customers’ further growth. Basepoint also brings technology and own products that will strengthen Cad-Q’s position as software developer. Together with Cad-Q’s Naviate product family, Basepoints FIKSU products will strengthen our offering at the Finnish market“, says Kai Helistén, Managing director Cad-Q Finland.