Confirma Software acquires Tietoaika Oy, a leading developer of residential real-estate management solutions.
Confirma Software is pleased to announce the acquisition of Tietoaika Oy.
“We continue to strengthen our presence in the Finnish market and the specialized ERP segment. Tietoaika has a very strong position within solutions for administration of real estate management companies and housing associations, and we estimate that more than 20,000 units and appr. 450.000 apartments are managed in Tietoaika´s solutions”, says CEO Jarle Mørk of Confirma Software.
With the acquisition of Tietoaika, Confirma Software has proforma LTM revenue of over € 35 million and more than 250 employees.
Tietoaika OY is a provider of cloud-based ERP solutions for real estate management companies and the boards and residents of building societies. The company was established in 1987 and has more than 250 customers. The Domus ERP solution is among other things an invoicing and accounting system, while the Huoneistotieto.fi solution is an information platform for owners, residents and board members in building societies.
“We are very happy about the variety of new possibilities this creates both to our customers and to us and eagerly look forward to continuing the growth for Tietoaika together with the other operating companies within the Confirma Software group ”, says Jussi Taulu, CEO of Tietoaika.
“We see a very good fit between the Tietoaika solutions and several of our other solutions within the group. In particular, the invoicing and cash management services offered by Cash-In Consulting will strengthen Tietoaika´s offering to their customers”, says Niclas Lundell, VP of Business Development at Confirma Software.
Tietoaika is based in Turku in Finland, and has 13 employees.
Confirma Software´s strategy is to continue to grow in the Nordic market through the acquisition of Nordic enterprise software companies with established market positions, serving the Nordic SME-market or the public sector.
Confirma Software was advised by Nordhaven Corporate Finance, EY Law and EY Advisory in the transaction.