Translation: Original comment published in Finnish on 9/26/2024 at 6:30 am EEST.

Sitowise has acquired LandPro Oy, a consulting company specializing in land acquisition for construction projects and marine permitting. LandPro’s revenue in 2023 was around 0.9 MEUR This is a small transaction (0.4%) compared to Sitowise's revenue (2023: 211 MEUR) and has no impact on our forecasts. The purchase price was not disclosed, but we believe Sitowise paid a fair price for the company's nearly 20% EBIT margin and good growth. 

According to the press release, the companies have worked together in the past and the acquisition provides further opportunities to deepen the partnership. Sitowise will now be able to offer a more comprehensive package to its clients in the infrastructure and energy sectors, as the company will also have expertise in permitting and land acquisition. For LandPro, the deal offers excellent resources for growth, as well as access to larger project packages.