Rapidly growing Sofigate is seeking new acquisitions
Press release 24/8/17
Sofigate has made IT and digitalisation management an export product and continues to grow rapidly. The revenue from the first half-year, 35 million euros, is nearly as large as the annual revenue total last year. Over the course of the year Sofigate has expanded through acquisitions to Sweden, Denmark and Great Britain and is planning new acquisitions to further accelerate growth.
The figures from the beginning of the year show that Sofigate’s investments to service development and expansion are producing results. The company is growing at record speed in its 14-year-history, and objectives have now been raised. The revenues for 2017 are projected to reach up to 70 million euros.
“Our growth strategy is exceeding our expectations. All companies are now thinking of the best ways to utilize technology to support their business, and we are in a key position to offer our productised services. Three years ago, our objective was to grow to an international service company of 100 million euros, employing 750 people by 2020. Now it seems these objectives were not ambitious enough: it is time to aim even higher”, says Sami Karkkila, CEO of Sofigate.
50 million euros for acquisitions
Sofigate has made three acquisitions in the last year. The latest acquisition, that of Swedish 3gamma, made Sofigate the leading IT management company in the Nordics. Sofigate employs over 400 people in eight cities in Finland, Sweden, Denmark and Great Britain.
Acquisitions are expected to continue to enable Sofigate to respond to growing demand.
“We are currently negotiating funding, and we plan to use 50 million euros for new acquisitions. This will allow us to accelerate growth and find qualified experts at a sufficient speed. We are looking for growth-companies with fitting cultures to complement our business operations.”