Posti Group To Divest Opuscapita Solutions To Providence Equity
08.03.2019
Helsinki – 8. March 2019: Posti Group Corporation has agreed to sell OpusCapita Solutions Oy, its fully owned subsidiary, to a fund managed by Providence Equity Partners L.L.C (Providence). Providence is a premier global asset management firm with over $40 billion in aggregate capital commitments. The divestment is in line with Posti Group’s strategy to focus on Postal, Parcel & E-commerce and Logistics services. The parties have agreed not to disclose the transaction price.
OpusCapita Solutions is one of the leading providers of digital solutions and transaction processing for source-to-pay, cash management, and product information management. OpusCapita is headquartered in Finland with 8 offices in Europe and the United States and has 350 employees and 3,000 customers globally. The change in ownership comes as the next natural step for OpusCapita Solutions and is planned to enable stronger investment in product competitiveness and global growth in the future.
The agreement was signed on March 8, 2019. Closing of the transaction is subject to approval by Germany’s Federal Cartel Office (Bundeskartellamt), which is expected to be received in due course. The completion of the transaction will be disclosed separately.
Employees of OpusCapita Solutions will continue with current terms and conditions. The change does not affect customer relations and will not require any actions from OpusCapita’s customers.
In 2018, OpusCapita Solutions’s net sales accounted for about 4 percent of Posti Group’s net sales. OpusCapita Solutions is reported as a separate segment in Posti Group`s financial reporting and it will be excluded from reporting after the transaction has been completed.
Posti, as the leading Postal, Parcel & e-commerce, and Logistics company in Finland will focus on its core
“Posti Group’s strategy is to accelerate the company’s transformation and renewal by focusing on its core businesses in postal, parcel & e-commerce, and logistics. We will continue to take advantage of digital communications in our business. For us, the new technology and automation will provide greater efficiency and help us maintain high quality. Finding a new owner for OpusCapita Solutions, with deep technological knowledge of transaction platforms and a global presence, is expected to support OpusCapita Solution’s plans to accelerate growth within the digitalization trend of CFO and CPO offices. OpusCapita Solutions is already an international forerunner in modern technology solutions for the Buyer-Supplier Ecosystem”, said Heikki Malinen, President & CEO of Posti Group.
The new ownership is expected to provide new opportunities to serve customers better
“This change comes as the next natural step in OpusCapita Solutions’ evolution. Over the past three years, we have divested non-core activities in order to focus our business on digitalizing and automating our customers’ finance and procurement processes. New ownership will allow OpusCapita Solutions to increase investments into key strategic initiatives while benefiting from Providence Equity’s insight and experience in driving global growth. We are confident that this ownership structure will allow OpusCapita Solutions to become a trusted partner for our customers on their digital transformation journey”, said Patrik Sallner, CEO, OpusCapita Solutions.
OpusCapita Solutions marks the first growth-stage software investment for Providence in Europe as it brings its proven investment strategy in growth-stage software companies to a new geography. Providence has been investing in Europe for over two decades.
Providence’s expertise, capabilities, and track record of building profitable and high-growth software businesses are well-suited for OpusCapita Solutions, whose attractive market position and strong management team are key characteristics consistent with Providence’s successful software investments to date.
“Providence is excited to be partnering with the OpusCapita Solutions team in their next chapter of delivering customers robust source-to-pay and cash management solutions. We believe our new partnership will enable various investments in product development and customer-facing functions that will further enhance the overall customer experience, enabling organizations to sell, buy and pay more efficiently. Furthermore, we are excited to support OpusCapita Solutions in its endeavors to have customers stay ahead of procurement trends as digital and automated transaction capability become a critical element of any business network,” said Gopi Vaddi, Managing Director at Providence.
Further information:
Heikki Malinen, President and CEO, Posti Group Corporation
Patrik Sallner, CEO, OpusCapita Solutions
Gopi Vaddi, Managing Director, Providence Equity Partners
Tel. +358 20 452 3366 (MediaDesk)
