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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Digia Oyj    DIGIA   FI0009007983

DIGIA OYJ

(DIGIA)
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Digia Oyj : Hub is expanding – is growing its freelancer network significantly with the acquisition of the consulting company NSD

10/15/2020 | 09:35am EST

On 1 October 2020, the owners of Digia Plc and NSD Consulting Oy signed an agreement by which Digia Plc will acquire the entire share capital of NSD Oy.

NSD is a consulting company that specialises in demanding full-stack software development, particularly in Java and .NET environments. A network of more than 1,600 freelance professionals plays a key role in NSD's business, as it enables NSD to provide its customers with top expertise to meet demanding requirements. The company's net sales totalled EUR 3.51 million in 2019. NSD has 14 of its own employees and about 40 consultants are currently working on projects.

Spurred by a transformation in IT working culture and customers' diverse needs

In the spring, Digia announced the establishment of a network of IT freelancers, aka Digia Hub. Digia Hub's operations will expand significantly as a result of this acquisition. A transformation, not only in the IT sector but in ways of working in general, prompted Digia to strengthen its cooperation with freelancers: small-scale entrepreneurship is growing in popularity alongside traditional salaried work.

Digia Hub also enables customers' evolving needs to be met more comprehensively.

'Digia is an end-to-end partner to its customers. We manage all layers of digitalisation from business systems to integrations, digital services and data-centric solutions. We also provide a comprehensive 24/7 maintenance and support service. Alongside our end-to-end services, we are now able to provide even better service through Digia Hub whenever a customer requires a large number of skilled professionals to work in teams under their own direction,' says Harri Vepsäläinen, Senior Vice President, Digia Digital.

'Value is created in networks. Digia Hub is a network that benefits both freelancers and customers alike - everyone wins,' says Vepsäläinen.

Growing organically, through acquisitions - and via networks

In recent years, Digia has founded its growth on organic growth and corporate acquisitions. The growth has been supported by Digia's comprehensive offering. The latest of acquisitions were in 2019, when Digia acquired Starcut Oy, a specialist in mobile development, and Accountor Enterprise Solutions Oy, which specialises in Microsoft D365 and Oracle NetSuite solutions. In the future, partnerships, ecosystems and network-based value creation will play an increasingly important role.

'NSD's freelancer network, combined with its finely-tuned operating model, will significantly strengthen the Digia Hub concept that we launched in the spring. NSD is also a stable, profitable software development company that will further reinforce our Java, .NET and data analytics business in particular. NSD is therefore an excellent acquisition for us in two respects. However, strengthening our freelancer network was the main reason for this acquisition,' says Vepsäläinen.

'Our strategy has been to grow calmly and profitably. We now want to start seeking distinctly faster growth. Completely new customer opportunities will open up for us as part of Digia. For example, Digia operates all across Finland, which holds great potential for us. We'll continue to cooperate with all of our existing customers as before, and hope to further strengthen this collaboration,' says Timo Saarinen, Sales Director, NSD.

The deal entered into force upon signing. The parties have agreed not to publish the acquisition price. The transaction will have no effect on the employment of the personnel of NSD.

For more information, contact:

Harri Vepsäläinen
Senior Vice President, Digia Digital, Digia Plc
+35850 571 8585
harri.vepsalainen@digia.com

Digia Hub - Compiling force
Digia Hub is Digia's freelance community, which currently consists of more than 1,800 IT professionals. The network provides IT experts with job opportunities and companies with quick and flexible access to experienced, sector-independent IT experts. Digia Hub is a network in which everybody wins. digiahub.com

Digia - Digitalisation that makes a difference
Digia is a software and service company that helps its customers renew themselves in the networked world. There are more than 1,200 of us working at Digia. Our roots are in Finland and we operate with our customers in Finland and abroad. We are building a world in which digitalisation makes a difference - together with our customers and partners. Digia net sales were EUR 131.8 million in 2019. The company is listed on Nasdaq Helsinki (DIGIA). digia.com

Disclaimer

Digia Oyj published this content on 01 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2020 13:34:03 UTC


© Publicnow 2020
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Sales 2020 139 M 165 M 165 M
Net income 2020 10,9 M 13,0 M 13,0 M
Net Debt 2020 11,0 M 13,0 M 13,0 M
P/E ratio 2020 15,1x
Yield 2020 2,07%
Capitalization 164 M 195 M 195 M
EV / Sales 2020 1,26x
EV / Sales 2021 1,17x
Nbr of Employees 1 266
Free-Float 50,9%
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Mean consensus UNDERPERFORM
Number of Analysts 3
Average target price 6,20 €
Last Close Price 6,12 €
Spread / Highest target 12,7%
Spread / Average Target 1,31%
Spread / Lowest Target -15,0%
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NameTitle
Timo Levoranta President & Chief Executive Officer
Carl Robert Ingman Chairman
Kristiina Simola Chief Financial Officer
Juhana Juppo CTO & Senior VP-Horizontal Services
Suvi Päivi Johanna Hokkanen Independent Director
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