Nordic ID Group Oy (“Nordic ID” or “Company”) plans to become listed on the Nasdaq Helsinki Oy’s First North Finland marketplace (”Listing”) and to carry out potentially an initial public offering (“IPO”) during 2018.
Nordic ID is a Finnish technology company that offers PaaS (Platform as a Service) – cloud services focused on real-time tracking, tracing and managing of assets flows and products. The company was founded in 1986 and has since transformed from supplier of readers to a global provider of smart solutions for retail and various industries using RAIN RFID technology.
“The paradigm change of the strategy that we have been implementing in order to become a services and solutions provider instead of being a hardware provider only has shown positive signs. It allows us to offer more comprehensive solutions to our customers and partners. I am very confident that this will also have a major impact on growth in the years to come ”, says Juha Reima, CEO of Nordic ID. “Our competitive advantage today and in the future stems from our innovativeness, ability and courage to develop solutions that support digitalization of our customers’ businesses. This will enable them to benefit from machine learning and AI (artificial intelligence) as a part of the holistic Nordic ID solution.”
The company turnover in FY 1.4.2017-31.3.2018 was 8,9 MEUR, of which 83 % consisted of international sales. The company is profitable, with an EBITDA of 7% of the turnover. The company has ca. 50 employees.
The planned IPO amounts to around 5,0 MEUR. The purpose of the IPO is to accelerate growth, to further develop the Radea software platform, acquire new software expertise by recruiting or acquisitions and extend operations in the US and in certain markets in Asia.
Juha Reima, CEO
P. +358 50 555 3224
Nordic ID Group Oy:
Nordic ID is a Finnish technology company offering PaaS (Platform as a Service) – cloud services focused on real-time tracking, tracing and managing of assets flows and products. The company turnover in FY 1.4.2017-31.3.2018 was 8,9 MEUR, of which 83 % consisted of international sales. Nordic ID is profitable, with an EBITDA of 7% of the turnover; the company aims at further strengthening its position in Europe and increase its market share in North America and Asia. www.nordicid.com
Download the press release in Finnish »