Transaction Updates

  • Total Specific Solutions has acquired Prime from Innofactor, the B2B solution provider in the Nordics Innofactor, the leading Nordic B2B Microsoft solutions provider, sells its resource management software solution division, Innofactor Prime, to Total Specific Solutions (“TSS”). TSS expands its position in the region with now four companies in Finland and eleven in the Nordics.

    Innofactor Prime is a flexible solution that enables parishes and local governments to optimize and effectively manage their organization's resources. The solution features various tailored and ready-made modules ranging from invoicing, calendar management, graveyard management, ERP to e-Services and more. It is cloud-based, giving users the freedom to work from any location and using any type of device.

    Mika Savolainen, General Manager at TSS: "We are excited to welcome a new company to TSS Finland. The Prime solution is used by clients in several verticals, but their main focus is on the vertical of religious organizations in Finland. In this vertical, they are one of the leading companies in Finland. The solution has been developed in close cooperation with their clients. This fits the TSS vision on best practices for software companies. Innofactor focuses on the Microsoft ecosystem's Business-to-Business solutions and reviewed its portfolio. This led to them searching for a new owner for Prime. Prime with its customer-driven approach and focus on specific verticals matched with us. TSS is a perpetual owner with independent business units and believes in software for life.
    I am looking forward to working with Managing Director Tiina Korolainen and her team."

    Tiina Korolainen, Managing Director of Prime: “My team and I are looking forward to this new step. It will be exciting to be part of one of Europe’s leading vertical market software groups, TSS. It will be interesting to learn new ways to run a vertical market software (VMS) company and be part of a dedicated Finnish group. I believe it will be a good step for our product, clients, and team."

    Sami Ensio, President and CEO Innofactor: "We were reviewing our offering portfolio, and Prime business no longer fit our strategic core focus to deliver Microsoft-based B2B solutions and services across the Nordics. In TSS, we found a new owner with a focus on country-specific mission-critical software. Prime is well aligned with this focus, and we feel very confident about its future as an independent business unit of TSS. We see this as the best outcome for Prime customers and employees, as well as Innofactor shareholders. Personally, this was a big decision for me since Prime has been part of Innofactor for over 20 years, from the first days of the company. I am extremely happy that we found a good home for Prime at TSS."

    Prime

    Prime is the division that provides the resource management solution of Innofactor, the Modern Digital Organization in the Nordics for Microsoft based B2B solutions. Prime focuses primarily on religious organizations but has other public and private companies in their portfolio as well. Currently, Prime is based in Espoo, Finland. More information on the website: http://www.prime.fi

    Innofactor

    Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial, public and third sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has over 500 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. In 2016–2020, the annual growth of Innofactor's net sales has been approximately 8.3%. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. https://www.innofactor.com
    #ModernDigitalOrganization #PeopleFirst #CreatingSmiles

    If you are an owner of a Vertical Market Software company and you would like to know more about joining TSS, please contact:

    Robin Myntti
    M&A TSS
    Phone: +358 407076363
    Email: r.myntti@tss-vms.com
    Show more www.prime.fi Mar 31, 2021 Share:
  • 2020 Acquisition update: international growth in times of COVID-19 2020 will be remembered as an exceptional year. On many levels, it has proven extremely challenging for all of us. Dealing with COVID-19 - social distancing, lockdowns, working from home, and homeschooling - has profoundly impacted our lives and the usual way of doing business.

    International growth covering 8 European countries

    Despite the context, we are very excited that 16 new software companies from 8 European countries joined Total Specific Solutions (“TSS”) in 2020. We strengthened our positions in Finland, France, Germany, the Netherlands, Sweden, and Spain. We entered two new territories: The United Kingdom with the acquisition of Biomedical Data Solutions and Iceland, where dk Hugbúnaður joined us. And with the acquisition of Quality Positioning Services (“QPS”) from the Swedish listed conglomerate Saab, we have entered the maritime vertical. All other 2020 acquisitions were in verticals where TSS already had domain knowledge.

    Joining forces with Topicus in preparation of Topicus.com Inc.

    In May, we announced the intention to merge with Topicus and spin-out of Constellation Software. As of February 2021, the combination is a fact, and shares of the combined entity (Topicus.com) have started trading on the Toronto Venture Exchange. The combination of Topicus and TSS will create a big step forward in our ambition of further growing our Pan-European vertical market software group. The new European holding Topicus.com consists of three autonomously run operating groups: TSS Public, TSS Blue, and Topicus. Each has its own focus and strengths contributing to the overall success.

    Our first steps into Poland

    Finally, we announced in December our intention to acquire and take private Polish’ listed vertical market software platform Simple SA. The company has a strong position in education and healthcare verticals, as well as a broad range of customers in production, trade, and service enterprises. In January 2021, we launched the public tender, and in early March, we successfully completed the tender offer and acquired the anticipated majority of Simple SA shares.

    With lockdowns and travel restrictions across Europe, M&A markets took a big hit in 2020 in terms of deal activity and uncertainty across the board. We are proud that many VMS companies joined the TSS family and have chosen TSS as their permanent home, especially during these times. Our dedication and acquisition strategy made it possible to deliver a high level of deal certainty and continue the dialogue with VMS companies. The sharing of best practices and knowledge is part of our DNA; it strengthens our autonomously operated VMS companies and makes them feel part of the group.

    We look forward to continuing our international growth ambitions in 2021. 2020 Acquisitions
    • Finland Finland
      • Futunio Associations
    • France France
      • Alcuin Education
      • Tribofilm Manufacturing / Local government
    • Germany Germany
      • DOBRICK + WAGNER Social affairs
      • EasySoft Healthcare / Education
      • IQDoQ Healthcare / Logistics
    • Iceland Iceland
      • dk Hugbúnaður SME / Accounting
    • Netherlands Netherlands
      • BCT Local government / Healthcare
      • QPS Maritime
      • Reflecta Retail
      • Vlot solutions Healthcare
    • Spain Spain
      • Spyro Manufacturing
    • Sweden Sweden
      • Evolution Commerce Retail
      • Ping Pong Education
      • Prek Real estate
    • United Kingdom United Kingdom
      • Biomedical Data Solutions Healthcare
     
    dk Hugbúnaður
    • Acquisition Date December 3, 2020
    • Vertical market SME, Accounting
    • Location Kópavogur, Iceland

    dk software offers cloud-based business software for more than 5,000 clients across multiple verticals in Iceland, making it the respective market leader in its segment. The company was established in 1998 and joined TSS after a swift process at the end of 2020.

    Magnús Pálsson, Managing Director at dk Hugbúnaður: “TSS believes in perpetual ownership, which is very important to us and our staff. Our company will be run as an independent business unit, which means that the legacy of our business can continue growing into the future.”

    BCT Software
    • Acquisition Date December 3, 2020
    • Vertical market Local Government, Healthcare, Corporations
    • Location Sittard, the Netherlands

    BCT Software is a leading Dutch specialist in information management for local government, healthcare, and corporations, and has offices in the Netherlands, Belgium and Germany. BCT has a rich history in the Dutch (semi) government sector which it built upon in the past 35 years. The first contact between BCT and TSS was already established many years ago.

    Dimitri Palmen, Managing Director of BCT Holding: “After 35 years as a family-owned software company, we are ready for the next step as BCT by joining TSS as an independent company. It will be an exciting new step, going from 140 to over 3,000 new colleagues across Europe. Becoming part of TSS will help us continue our growth as one of the most experienced and professional companies in our segment.”

    QPS
    • Acquisition Date August 4, 2020
    • Vertical market Maritime
    • Location Zeist, the Netherlands

    QPS is the global niche leader in maritime geomatics software and services and is acquired from Saab AB, the Swedish defense-, aerospace- and maritime conglomerate. Considered non-core within Saab’s portfolio of activities, the divestment will allow both Saab AB and QPS to prioritize strategically. Deal certainty offered by TSS during the process was a positive factor in this process.

    Almar Hollaar, Managing Director at QPS East: “TSS will provide us new best practices on running Vertical Market Software companies. And by joining TSS, who has the ‘Software for Life’ strategy, we can continue to be a leader in our industry in the future.”

     
    Becoming part of TSS

    TSS operates a decentralized business model, meaning that the different companies retain a high level of business autonomy while benefitting from certain centralized services and expertise, such as finance and M&A. Our 'Software for Life' philosophy entails that we support the management of the businesses through best practices allowing them to ensure the relevance of their software solutions for their end markets. Our best practices assist them in developing and improving their software continuously, implementing the necessary changes to comply with the new market or legislative requirements, and ensuring that the needed technological advancements are based on customer-driven needs. Furthermore, within TSS, we are focused extensively on talent development and organizational improvement. We aim to provide all our employees with a challenging working environment and ample career opportunities for our highly skilled specialists.

    TSS is continuously seeking new opportunities to add value to our existing vertical markets and geographies and is equally excited to explore new verticals and geographies when great opportunities present themselves. We work with high levels of confidentiality and discretion.

    For further information, please contact the M&A team active in your geography via our acquisitions page.

    Show more   Share:
  • Total Specific Solutions acquires a majority share of Simple SA in Poland Warsaw, 1 March 2021. – Total Specific Solutions (‘TSS’) has successfully acquired the anticipated majority of Simple SA shares in the previously announced tender offer. TSS has now expanded into Poland. Simple SA is a well-established vertical market software platform in Poland, with a position in the public segment, especially within Universities, Hospitals, and Scientific Institutions. In addition, Simple has a position in the ERP software space for production, trade, and service enterprises.

    TSS has acquired 84.13% of issued Simple shares and now controls Simple through the Supervisory Board, where TSS representatives fill 3 of the 5 available positions. Simple SA is currently listed on the Warsaw Stock Exchange, but TSS ultimately aims to delist the company in the near future. The current management board will continue to run Simple on a daily basis.

    Simple SA is a leading software company in Poland with an extensive product range offering mission-critical solutions for multiple verticals in the market. Originally founded as a horizontal ERP software provider, it has expanded organically and through targeted acquisitions in several public verticals. The company is particularly strong in the Educational space, with many Polish Universities and Scientific Institutes as customers. The solution for the educational sector (Student Information System) focuses on all aspects of student services such as didactics, class planning and recruitment process. In addition, Simple SA has a subsidiary that provides Hospital Information Systems. Their Healthcare Information System (HIS) allows for managing treatment and medical records of patients, including fund settlements with the insurer. As their software range originated as an ERP solution, they service additional markets providing software for HR, finance, production, and budgeting processes.

    Ramon Zanders, Group CEO at Total Specific Solutions: "We are very proud to welcome Simple to TSS. It is our first acquisition in Poland, a country with a well-developed IT sector and a high technology standard. With this acquisition, we strengthen our position in, for example, the educational vertical. This is the fifth company in the education vertical TSS acquired in the recent past and we have a nice spread within the different types of education that our companies cover. Simple is perfectly complementary to ergovia and easySoft in Germany and Ping Pong in Sweden. As a listed company, Simple has been results-driven, which fits our way of doing business. They are also customer-driven, which is a good match with us. I look forward to working with Rafa? and Daniel in becoming an independent business unit of TSS.”

    Rafal Wnorowski, Managing Director of Simple: "We are looking forward to being part of a large software group that places emphasis on customers and results, basically on doing the right things right. This will help us with our next steps as a Company. Having access to all the knowledge of more than 3,000 colleagues will strengthen us as a company. Knowledge sharing through best practices and many types of internal programs is something you only can achieve in a large group with the right mindset. So, we are very happy that we found the right company in TSS for our future."

    Simple SA

    Simple is one of the oldest software companies in Poland with more than 30 years of experience in software development and knowledge and they rank among the leading IT providers. Since its inception, 3,500 companies and institutions have trusted SIMPLE. More than 25,000 users use SIMPLE software to achieve their daily business goals. Simple has an extensive portfolio of innovative IT systems that comprehensively supports management in various industries. The office is in Warsaw, Poland.

    Simple SA

    Name: Rafal Wnorowski
    Managing Director
    Telephone: +48 22 812 58 98 ext. 275
    Email: biuro_zarzadu@simple.com.pl

    If you are an owner of a Vertical Market Software company and you would like to know more about joining TSS, please contact:

    Maciej Rozycki
    Portfolio Manager, Poland
    Telephone: +48 696 422 525
    Email: m.rozycki@tss-vms.com

     
    Show more simple.com.pl Mar 01, 2021 Share: