Affecto Plc – Stock Exchange Release, 20 December 2016 at 9:00, Helsinki
Affecto to Acquire BIGDATAPUMP
Affecto has agreed to purchase BIGDATAPUMP, a privately held cloud analytics company based in Finland. Revenue of BIGDATAPUMP was EUR 1.8 million in 2015 and is estimated to be approximately EUR 3.3 million in 2016.
The purchase price consists of an EUR 3.5 million cash payment upon closing of the transaction and an earn-out element worth a maximum of EUR 3 million. The earn-out element is also paid in cash, subject to the achievement of defined financial targets in 3 years, at the latest in 5 years. This overall purchase price is on a net debt free basis.
The transaction will result in the establishment of a joint business with an exclusive suite of cloud data analytics offerings with managed service capabilities, including nearshore delivery, as well as service design capabilities. The business will drive a plan of expansion across Finland & Scandinavia in 2017.
This acquisition represents the joining of Affecto’s existing Northern European office network with BIGDATAPUMP’s growing international business footprint. Juko Hakala Affecto CEO states, “The companies’ combined offerings will set Affecto and BIGDATAPUMP apart as the premier Northern European solution to power data driven businesses for our customers.”
The transaction is expected to be finalized by the 1 February 2017.
Following the transaction, BIGDATAPUMP will retain its brand and focus, while its personnel, customers, and partners will belong to newly formed BIGDATAPUMP under the Affecto Group.
For additional information, please contact:
+358 40 8018331