Finland-based Sesca Group and Chinese Neusoft Ltd have entered into an agreement under which Neusoft will acquire Sesca’s mobile phone software development and testing business operations in Finland and Romania. According to the agreement Sesca’s subsidiaries, Sesca Mobile Software Oy, Almitas Oy and Romania-based Sesca Technologies SRL, will be integrated in Neusoft. Subsidiaries employ altogether 280 people.
The acquisition is subject to regulatory approvals in China. The acquisition is expected to close during autumn 2009. The value of the acquisition is not disclosed.
According to the new business strategy of Sesca, the company will continue to focus on providing solutions, services and software for the energy production and process industries. After the acquisition, Sesca employs 300 people in Finland, Sweden and Czech Republic.
”There were not enough business synergies between energy production and process industry and telecommunications business operations in Sesca to support company’s growth strategy. The ability to succeed in international competition and to grow our business demand us that we focus on chosen line of business”, says Jarmo Leino, the Chairman of the Board of Sesca.
“As a globally operating company Neusoft Ltd brings to mobile phone software development and testing business operations new necessary resources and competences to improve competitiveness among key customers and also for business expansion to new markets. Furthermore, this should be seen as an opportunity to explore collaboration opportunities also in other business areas between Neusoft Ltd and Sesca”, Leino continues.
”Sesca’s expertise in energy production and process industries is top class in the market. By focusing our business operations we can truly challenge our competitors both in the domestic and in the international markets” says Riku Niemelä, the CEO of Sesca Group.
”Neusoft is very pleased that via the acquisition we can significantly strengthen our expertise in mobile phone software development and testing. Sesca’s know-how is world class, and by uniting the business operations of Sesca and Neusoft we become one of the leading companies in mobile phone software development and testing. We also see interesting opportunities to co-operate with Sesca in other business areas in the future”, says Liu Jiren, the Chairman of the Board of Neusoft.
For more information:
Jarmo Leino, Chairman of the Board, Sesca Group Oy
Phone: +350 440 442 523
-mail:jarmo.leino@leinolaw.fi
Riku Niemelä, CEO, Sesca Group Oy
Phone: +358 400 954 596
E-mail: riku.niemela@sesca.com
Klaus Zimmer, Vice President and European President, Neusoft Ltd
Phone: +49 173 576 1956
E-mail: klaus.zimmer@neusoft.com
Sesca Group
Finland-based Sesca Group delivers solutions, services and software for the energy production and process industries. Sesca employs approximately 300 professionals in Finland, Sweden and Czech Republic. Company headquarter is located in Vaasa, Finland.
About Neusoft Corporation
Neusoft is a leading IT solutions & services company and the largest offshore software and service outsourcing provider in China. Neusoft has set up a large sales and services network in China, as well as subsidiaries in Japan, USA and Europe, maintaining a total of more than 15,000 employees. For more information about Neusoft, please visit: http://www.neusoft.com/en