Press release September 29, 2006 - The management (Thomas Hood and Christer Nordlund) of PlanMill Ltd together with Sentica Partners Oy acquires the businesses of PlanMill Ltd from TJ Group Oyj to a newly formed company. The new company will continue and develop the acquired businesses under the name of PlanMill Oy. Thomas Hood will continue as CEO and Investment Director Jouko Pelkonen will become the Chairman of the Board for the new company.
The annual net sales of the acquired business was 0,85 million euros and operating result was 73 thousand euros in 2005, according to IFRS standards.
All customer accounts and businesses of PlanMill Ltd will transfer to the new company. All personnel of PlanMill Ltd will be employed by the new company with continued employment terms.
”This is a very positive move for PlanMill's businesses. We will continue using the well-known PlanMill name and the new ownership arrangement will guarantee us means for long-term business development. We will now pursue faster growth in the rapidly growing PSA-marketplace. We have just released the next generation release 10 of PlanMill PSA-software (www.planmill.com), which will give us a kick-start to offer our customers faster and more flexible solutions for cost-effective deployment. Our solutions enhance their service- and project-related businesses, choosing either of our flexible deployment options that are Online (ASP) and On-Premise (own IT environment) ", says Thomas Hood, the major shareholder of the new startup.
Sentica Partners Oy strongly believes in the growth possibilities of PlanMill businesses in Finland and internationally. ”PlanMill's business is in good shape and PlanMill has a strong account portfolio as well as highly experienced and skilled personnel, that offers an attractive ground for future growth.”, says Jouko Pelkonen, Investment Director at Sentica Partners.
Espoo, 29 September 2006
PlanMill Ltd
Thomas Hood
CEO
Additional information:
CEO Thomas Hood, PlanMill Ltd
Tel. +358-40-558 5138 or thomas.hood@planmill.com
Sentica Partners Oy
Investment Director Jouko Pelkonen
Tel. +358-40-556 2387 or jouko.pelkonen@sentica.fi
PlanMill in brief
PlanMill Ltd is a leading provider of user-friendly, real-time Online and On-Premise PSA (Professional Services Automation) solutions. Browser-based PSA solutions by PlanMill help to improve the control of customer relationships, projects and business processes, which in turn improves the customer companies' productivity and profitability. PlanMill solutions have been deployed to more than 60 leading service companies and IT and R&D divisions of companies in more than 10 countries. Its customers include Digita, Fifth Element, Ilmarinen, Nordea, Raiffeisen Informatik, Sofia Digital, Tieto-X and UNIQA. The company has established an authorized dealer network to Austria, Switzerland, and Germany.
Sentica Partners in brief
Sentica Partners Oy is a leading investment fund focusing on SME transactions in Finland. Sentica has 130 M€ funds under management.
Distribution:
Main media
www.planmill.com
