Azets acquires AST-Accounting Services Tilimatic Oy – stronger offering for international companies in Finland
Azets, the most technologically advanced provider of outsourced financial, payroll and HR services and management development services in the Nordic countries, is acquiring AST-Accounting Services Tilimatic Oy, a company specializing in financial and payroll services for international companies. As a result of the merger, Azets will provide stronger support to Finnish subsidiaries of international companies.
Technological development and increasing regulation require more global and regional expertise. International companies expect a financial service outsourcing partner to have comprehensive service, local and international accounting and corporate reporting expertise, and a strong knowledge of regional legislation and practices.
“For many years, Azets and AST-Accounting Services Tilimatic have been working side by side on the Finnish market, providing high-quality expert services to Finnish subsidiaries of international companies. The acquisition enables us to combine years of experience and gain a stronger market position,” says Ulla Nikkanen, CEO of Azets Insight Oy.
Azets International Services in Finland is aimed at subsidiaries of international companies operating or starting up in Finland, regardless of size or parent company. The services cover financial, payroll and HR services in accordance with the requirements of Finnish legislation, special expertise in accounting and tax matters and reporting (eg IFRS, US GAAP, FAS).
“Part of our service is to ensure that the parent company keeps abreast of the impact of national legislative changes and current recommendations on the company's business,” says Nikkanen. The merger with Azets means that AST-Accounting Services Tilimatic can offer to its customers a wider range of services, including technology solutions.
“In addition to the customer benefits, the acquisition also enables AST-Accounting Services Tilimatic to develop its operations as part of an international group,” says Marcus von Schantz, CEO of AST-Accounting Services Tilimatic Oy.
The acquisition will take effect on March 9, 2020. As a result, 35 employees of AST-Accounting Services Tilimatic will move to the Azets House in Helsinki's Elielinaukio in the spring.