Etteplan continues to grow in Sweden and acquires technical documentation company Teknifo ABBack to Releases
Etteplan Oyj Press release October 9, 2019 at 9.00 a.m.
Etteplan will continue to strengthen its position in Sweden by acquiring Teknifo AB, a company specializing in technical product documentation. The transaction fits well with Etteplan’s growth strategy as it strengthens both our expertise as well as our market position. This is the fourth acquisition for Etteplan this year.
“The acquisition of Teknifo is a continuation of our expansion in Sweden and in technical documentation. Teknifo is a specialist of digital spare part books and will strengthen our position in aftermarket solutions. It also gives us a stronger foothold in the South East Sweden where we have a very interesting customer base”, says Mikael Vatn, SVP Technical Documentation Solutions, Etteplan.
Teknifo AB, established in 1980, is located in Växjö and Ljungby in Southern Sweden and has some 20 employees. Teknifo is strong in technical documentation for heavy industry vehicles.
“I see Etteplan as a perfect match for us. We have a similar type of customer base, which allows us to offer a wider rage of solutions to the customers of both companies. For our personnel this is also a good opportunity to be part of larger and more challenging projects in the global Etteplan team,” says Jonas Ekstedt, CEO of Teknifo AB.
The parties have agreed not to disclose the price of the transaction.
The acquisition is a continuation to Etteplan’s growth story in Sweden. Earlier this year Etteplan announced an acquisition of Devex Mekatronik AB, an engineering company specialized in mechanical and electronical engineering, software development, embedded systems and life science. In 2017 Etteplan acquired Sorona Innovation AB, a company specialized in technical documentation solutions. Sorona Innovation strengthened Etteplan’s strategic know-how in technical documentation and as a developer of documentation processes. Currently Etteplan operates in 18 different locations in Sweden and employs there some 650 engineering experts, 175 of them specializing in technical documentation.
For more information please contact:
Mikael Vatn, SVP, Technical Documentation Solutions, Etteplan, tel. +46 708 814820
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302.
Etteplan in brief
Etteplan provides solutions for industrial equipment and plant engineering, software and embedded solutions, and technical documentation solutions to the world’s leading companies in the manufacturing industry. Our services are geared to improve the competitiveness of our customers’ products, services and engineering processes throughout the product life cycle. The results of Etteplan’s innovative engineering can be seen in numerous industrial solutions and everyday products.
In 2018, Etteplan had a turnover of approximately EUR 236 million. The company currently has some 3,400 professionals in Finland, Sweden, the Netherlands, Germany, Poland and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com