Netum Group Plc: Netum DUX business transferred to Optimo Systems Oy
Netum Group Plc Company announcement 30 June 2023 at 3:00 p.m. EEST
Netum Oy, a subsidiary of Netum Group Plc, and Optimo Systems Oy have today agreed on a transaction in which the Netum DUX business will be transferred to Optimo Systems as a contribution in kind.
Netum DUX is an IT asset management system (ITAM) that Netum Oy has developed and sold for several years. The revenue of the transferred business is estimated to be approximately EUR 0.2 million in the second half of 2023 and the result to be negative. Two Netum Oy employees will transfer to Optimo Systems Oy, a company established for the purpose of the business transfer. The CEO of Optimo Systems Oy is Jussi Vasama, M.Sc. (Tech.), who has been Director of the Netum DUX product business until 30 June 2023.
In connection with the business transfer, the companies have signed an agreement concerning the sales of the Netum DUX product and the sourcing of product development services from Netum Oy.
In the directed share issue of Optimo Systems Oy carried out in connection with the business transfer, Netum Oy will become a shareholder in the company through a contribution in kind with approximately 49% ownership. In addition to the three founders, a number of private investors external to Optimo Systems Oy have committed to subscribing for shares in order to bring significant growth funding to the company. These include Netum Group Plc's Chairman of the Board Olavi Köngäs, Board member Jarmo Puputti, CEO Matti Mujunen and Management Team member Juha-Pekka Leskinen.
As the investors include related parties of Netum Group Plc, the preparation of the arrangement has been treated as a related party transaction in Netum Group.
As of 1 July 2023, Optimo Systems Oy will be an associated company of Netum Oy, and its result will be presented as a share of the associated company's result as part of financial income and expenses.
As of 1 July 2023, Optimo Systems Oy will be an associated company of Netum Oy, and its result is presented as a share of the associated company's result under financial income and expenses .
Matti Mujunen, CEO of Netum Group Plc, comments that the position of the Netum DUX product business in the Group has been considered for a long time and continues: “Thanks to the arrangement, Netum Oy now has the opportunity to focus on the IT services business. The arrangement supports the achievement of the Group's profitability targets and provides an opportunity to benefit from the success of the Netum DUX product in the future.”
"An independent product company with key personnel as shareholders and diverse expertise behind it is able to take the software service also to international markets. Corporate IT and finance need solutions that can help to save IT costs and responsibly manage IT assets," says Jussi Vasama.
For additional information, please contact:
Netum Group Plc
Matti Mujunen, CEO
+358 40 047 6401
matti.mujunen@netum.fi
Optimo Systems Oy
Jussi Vasama, CEO
+358 50 381 0227
jussi.vasama@optimo.fi
Certified advisor:
Evli Bank Plc
+358 40 579 6210
Netum Group in brief
Netum Group Plc is a profitably growing IT services company with over 20 years of experience of demanding IT projects. The company offers its public administration and corporate customers its “Legacy to Digi®” concept. This concept enables combining traditional IT solutions with the latest digital applications safely and in a responsible way. Netum's goal is to be the most trusted partner and the preferred employer in the industry. In 2022, Netum Group's revenue was EUR 29.1 million, and the company currently has approximately 300 employees in Finland.