Azets strengthens its technology offering to customers by acquiring the Microsoft BC and LS Retail based ERP business from Solteq



Azets, the international outsourcing, compliance, and advisory group, has today signed an agreement to acquire the Microsoft Dynamics 365 Business Central and LS Retail business of Solteq Plc.

The asset deal covers the professional services, employees and customers related to the Microsoft BC and LS Retail business of Solteq. The annual revenue of the acquired business is approximately 11,2 million euros.

As part of the acquisition, some 60 talented smart people working in Finland, Sweden, Norway and Denmark will transfer to join the Azets team.

Ulla Nikkanen, Managing Director of Azets Finland, said: “Our technology strategy is based on selecting the best third-party products on the market and combining those with high-quality implementation competence, including deep process knowledge and automation capabilities. Combining the competences of the acquired business and Azets around Microsoft Dynamics 365 Business Central and LS Retail is part of our ambition to become a major implementation partner and provider of Business Central based services and solutions internationally, with strong opportunities to grow through our local and international customers and our presence across Europe.”

Azets already provides outsourced accounting services based on Microsoft Business Central solutions both locally and internationally. With this acquisition, Azets will offer its customers comprehensive cloud based ERP solutions based on a single platform, including not only financial administration, but also purchasing, sales, inventory management, logistics, production and customer relationship management modules, expanded with the store and POS functionalities of LS Retail.

In addition, customers have access to Azets’ wide selection of services, including outsourced accounting, payroll and HR services, advisory services and related software.

Aarne Aktan, the CEO of Solteq Plc., said: ”This is a logical continuum for the previously completed transactions. Azets is a natural choice as the successor for the Microsoft Dynamics 365 Business Central and LS Retail business and provides an excellent growth platform for the transferring business and experts. We will now focus even more on the chosen software solutions and IT expert services for the energy sector, retail, and e-commerce. In addition, the Transaction will significantly decrease the company’s indebtedness.”
Ulla Nikkanen added: “We warmly welcome the Solteq employees in Finland, Sweden, Norway and Denmark to join Azets. The team consists of highly skilled professionals sharing the passion for excellent customer service and high-quality implementation projects.”

The intended closing date of the asset deal is May 2, 2023.