Blancco is acquired by UK- based Regenersis - Mar 31 2014 Blancco's headquarters will remain in Finland
Joensuu, 31 March 2014. Blancco Oy Ltd, the global leader in data erasure and computer reuse solutions, has announced its purchase by Regenersis Plc, a strategic outsourcing partner to many of the world's leading consumer technology companies. Regenersis purchased the data erasure software specialist's entire share capital for the purchase price of approximately EUR 60 million.
Blancco will operate as an independent subsidiary of Regenersis. The companys headquarters will stay in Finland, so the number of Finnish jobs will remain unchanged and are likely to even increase. The Blancco name, brand and organization will remain the same, and the company's acquisition will have no impact on Blancco's existing customer relationships.
Regenersis' portfolio includes products that will be integrated into Blancco's portfolio to further strengthen it.
This transaction should have no effect on Blancco's growth, which should continue at its current impressive rate, Kim V is nen, Managing Director of Blancco said. Regenersis' strategy is to grow Blancco operations both organically and through other mergers and acquisitions. V is nen will continue as Managing Director of Blancco. In addition, he will also be the head of software services for Regenersis.
Regenersis will be strengthened through Blancco
According to the Regenersis Board of Directors, the company's solutions will also be strengthened by Blancco, as Regeneris will be able to build on existing customer relationships with Blancco's data erasure products. This will bring potential new customers for Regenersis as well.
The UK-based company believes that erasure demand will continue to grow based on the upcoming EU tightening of data protection legislation, among other things. Blancco estimates that in the EU, less than ten per cent of companies use a proper data destruction service provider.
Blancco has grown from a small northern Karelian business company to a global leader over the last 17 years, and its headquarters will remain in Joensuu, Finland, V is nen said. We have reached one stage in our remarkable journey as a business, and future growth should continue as briskly as in the past. I would like to thank all of those who, over the years, have believed in Blancco and our business concept, encouraged us and supported us emotionally and financially. Without the support of the local community, Blancco would have not been able to grow to its present size of about 130 employees strong.
Blancco Group's total sales in 2013 were around 15 million euros, with sales outside Finland accounting for 97.6 per cent of the total. Operating profit was approximately EUR 5.3 million. Until the acquisition, Blanccos primary owners were Kim V is nen (43 percent share), Michael R chner (34 percent) and Ari Hakkarainen (12 percent). Kim V is nen will invest a portion of the sale price by purchasing back a portion of shares of Regenersis.
Regenersis is listed on the London Stock Exchange as a British global outsourcing services provider with operations in 25 locations in 13 different countries. Regenersis specializes in mobile phones and other consumer electronics service and repair activities. The companys customers include Nokia, Samsung, and HTC. Regenersis' sales are rapidly growing and totaled 180 million pounds or about 220 million euros in fiscal year 2013.
Mathew Peacock, Executive Chairman of Regenersis, said I am delighted with this acquisition. Blancco is a great business with an excellent fit, and at a price that works for our shareholders. Most importantly it moves the centre of gravity of the group clearly into Advanced Solutions, with a majority of our profits in this segment, and opens up a variety of possibilities for future development.
For more information, please visit http://www.regenersis.com/rns/announcement?id=11908146.
Blancco Oy Ltd.
Kim V is nen, Managing Director
+358 50 585 2885
kim.vaisanen@blancco.com
Media Contact:
Monica Shaw
+1 770 367 9534
mshaw@carabinerpr.com
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Blancco is acquired by UK- based Regenersis - Mar 31 2014 Blancco's headquarters will remain in Finland
