TALENOM ACCELERATES THE GROWTH OF ITS SWEDISH BUSINESS BY PURCHASING THE SHARE CAPITAL OF NIVA EKONOMI AB

Talenom Plc Press release 4 May 2020 at 14:30

Talenom accelerates the growth of its Swedish business by purchasing the share capital of Niva Ekonomi AB

Talenom Plc has made an agreement with the owner of the Swedish accounting company Niva Ekonomi AB on purchasing its entire share capital. A part of the purchase price will be paid with shares of Talenom Plc in a directed share issue for the owner of Niva Ekonomi AB.

Niva Ekonomi AB is a Stockholm-based authorised accounting company with 17 employees. The company’s net sales were SEK 14.6 million (EUR 1.4 million) in 2019. Profitability of the business was good: EBITDA in 2019 was SEK 2.3 million (EUR 0.2 million), or 15.8 % of net sales.

The purchase price is SEK 11.7 million (EUR 1.1 million), of which SEK 5.85 million (EUR 0.5 million) is paid in cash and financed by the liquid assets of Talenom Plc. The remainder of the purchase price is paid with new shares of Talenom Plc subscribed for in a directed share issue. In addition, the seller has the opportunity to receive an additional purchase price of SEK 2.0 million (EUR 0.2 million) at maximum when the financial targets set for the acquired business are realised.

In the short term, the purchase of shares will have no significant impact on Talenom’s financial position or future outlook. The acquired company supports Talenom’s core business and strengthens its position on the Swedish market, to which Talenom expanded its operations in 2019 by purchasing the share capital of Wakers Consulting AB.

“We warmly welcome Niva Ekonomi AB’s personnel and customers to Talenom. We have studied the company’s culture and modes of operation carefully. Both companies are connected by a strong customer-oriented approach and the desire to offer our personnel the best workplace. Shared values are a good place to start building a future together,” says Otto-Pekka Huhtala, CEO of Talenom.

“Niva Ekonomi AB has been growing and reforming the accounting sector actively for a decade. Talenom is a perfect partner for us on this journey. We share the same views on the importance of service, processes and technology, and together we will definitely become one of the leading companies on the Swedish market. With the cooperation, we now have more to offer to our customers,” says Camilla Niva, founder and CEO of Niva Ekonomi AB.

TALENOM PLC

Further information:
Otto-Pekka Huhtala
CEO, Talenom Plc
+358 40 7038 554
otto-pekka.huhtala@talenom.fi

Talenom is an accounting company established in 1972. It offers a wide range of accounting services and other expert services which support its customers’ business. The company develops software and offers its accounting customers electronic financial management tools.

Talenom Group’s net sales in 2019 amounted to EUR 58.0 million, with an increase of 18.6% compared to 2018. Talenom has a history of strong growth – the average annual increase in net sales was approximately 15.7% between 2005 and 2019.

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