2018_04_12
News

Accountor becomes majority shareholder of Isolta - Cooperation has a significant impact on small businesses

Accountor Group, which provides financial and payroll services and software, acquires a majority stake in Isolta Oy and strengthens its market position as a financial service provider. Isolta's founders continue to lead it as a minority shareholder. The deal was signed yesterday.

The Accountor Group is Finland's leading provider of financial and payroll services, and software solutions. Isolta's Arkhimedes billing program is designed to help small business owners with effortless invoicing, which is one of the company's most basic operations.

- Small companies employing one or few employees are a major factor in our country's economic growth. The emergence of new businesses and hence of innovation is economically significant. Through this transaction, we strengthen our expertise in this market, says Catarina Lindahl, Accountor's SME Business Director.

- Isolta has a strong market position and excellent knowledge of the everyday life of small business owners, and we receive this expertise now in Accountor, Lindahl adds.

With the deal, Isolta Oy will become part of the Accountor's SME business, which includes currently Accountor Finago, a software provider for electronic financial management, Ecom's software engineering firm for building services, and eTasku, which specializes in digitization of receivables. Trade does not affect Isoltan's services, they continue as they are today.

- Our services to entrepreneurs remain unchanged, but with the help of Accountor we can provide more comprehensive solutions in the future. By integrating our service closely with electronic financial software, we can offer new opportunities for entrepreneurs, practitioners and small businesses to get rid of manual work, says Isolta's CEO Mikko Ilomäki.

As a result of the transaction, Accountor's offering in the small business sector is also expanding in foreign markets. In addition to Finland, Isolta operates in Sweden, Estonia, Latvia and Germany.

 

Accountor is the leading provider of financial and payroll services in Northern Europe, serving over 100,000 customer companies with more than 2600 experts in seven different countries. In Finland, Accountor has over one thousand economic experts in about 30 offices around the country.

Isolta Oy, founded in 2003, is a software company specializing in financial administration. More than 30,000 self-employed entrepreneurs, practitioners and small businesses use Isolta’s Arkhimedes software for monthly billing and customer relationship management.

 

For more information, please contact:

Catarina Lindahl, EVP SME Cluster, Accountor

catarina.lindahl@finago.com, tel. +46 760 253 760

 

Mikko Ilomäki, CEO, Isolta Oy

mikko.ilomaki@isolta.com, tel. +358504449867