Virnex Group Ltd, based in Lahti, Finland, has acquired the entire share capital of Cubescom Ltd from the Swedish Leftinger & Johansson AB and the company’s CEO Tero Suominen. Cubescom specializes in business-critical ERP and digitization solutions. The company employs 32 people in Finland and its turnover in 2020 was approximately €3,6M. Virnex Group Ltd aims to accelerate Cubescom’s growth by expanding its service offering by combining the companies’ diverse expertise.
The history of Cubescom Ltd dates to the 1980s, but in its current form, the company was founded in 2011 when Leftinger & Johansson and Tero Suominen bought its Finnish operations from the Swedish Iptor AB. The company has a stable customer base, and many of the company’s customers have already been cooperating with Cubescom since the 1990s. The company’s largest business is the development of ERP systems for the changing needs of companies. Cubescom also offers its customers office software consulting, training, and web solution development.
“The acquisition has very strong synergies and will strengthen both Virnex’s and Cubescom’s current service offering and expertise. Today, Virnex provides top experts in managing and planning digitization projects for large companies. With the Cubescom acquisition, Virnex can offer its customers an even more comprehensive digitization partnership, including management, design, implementation, and maintenance. With the acquisition, Virnex has more than 50 top specialists to offer for its clients”, says Jarkko Multanen, Chairman of the Board of Virnex Group.
“I am very satisfied with the deal where Cubescom returns to Finnish ownership based in Lahti. Virnex offers Cubescom’s staff and customers a great future by investing in the company’s modern technology expertise and service offering. I am proud of what we have achieved as a company in the last nine years, and now I’m very motivated to continue the development of the company with an experienced management team at Virnex“, says Cubescom CEO, Tero Suominen.
“We are excited about the deal and would like to warmly welcome all Cubescom employees as part of Virnex’s fast-growing team! We are looking for strong growth in Finland and the Nordic markets. The acquisition opens new opportunities for dozens of new customers in Finland, Sweden, and Norway. Cubescom’s subsidiary Clearpulse AB brings us an interesting product for managing IT software, licenses, and devices and at the same time a channel for IT services in Swedish municipalities”, says Johan Ekholm, CEO of Virnex Group Ltd.
Following the acquisition, Cubescom Ltd will continue to operate normally as part of the Virnex Group Ltd. The arrangement does not affect the company’s customer relationships or partnerships.
FOR MORE INFORMATION:
Chairman of the Board Jarkko Multanen, Virnex Group Oy, +358 40 7643274, firstname.lastname@example.org
Managing Director Tero Suominen, Cubescom Oy, +358 50 5748234, email@example.com
Virnex Oy is a fast-growing ICT service company founded in 2019 when Accanto Systems Oy’s Finnish operations were transferred to Virnex Oy in an acquisition. The company employs more than 20 ICT consultants in Lahti and Helsinki. The company provides ICT consulting, digital project management, planning and implementation. Virnex Group’s Pro Forma net sales will increase to approximately €7M in 2021 with the acquisition. The main owners of the company are CEO Johan Ekholm, Chairman of the Board Jarkko Multanen and CTO Tom Gustafsson.