Raute acquires majority holding in Hiottu Oy
Raute,acquisition,Hiottu Oy,software services
Raute Corporation has signed an agreement on the acquisition of the majority of the share capital in Oulu-based Hiottu Oy. The shareholders employed by Hiottu will continue working for the company.
Hiottu, established in 2005, is a company offering software services with special knowhow in various machine vision solutions and other system solutions for demanding industrial environment. Hiottu’s services include software consulting and project management, machine vision programming and systems, industrial programming, and web programming.
Hiottu Oy complements Raute’s knowhow in digitalisation and the acquisition of the company is part of the previously reported investment in digitalisation. Hiottu has previously been Raute’s cooperation partner. Hiottu’s net sales in 2019 were Euro 0.8 million and it employs 11 persons.
Hiottu’s business will be continued as a separate limited company in Oulu and all employees will continue in the company as former employees. Like previously, Hiottu continues to serve also customers outside the Raute Group. Ms. Satu Lapinlampi continues as Managing Director of the company.
The acquisition is carried out as a share transaction, after which Raute’s holds 80% of the company shares. Mr. Kari Lapinlampi, one of the founders of the company, holds 20% of the company after this transaction and will remain with the company, too. The terms of acquiring also the minority holding through an additional agreement after a transition period have been agreed on in the terms and conditions of the agreement closed today.
Tapani Kiiski, President and CEO says: “The acquisition of Hiottu is an investment in the digitalisation in line with our strategy and it strengthens for its part Raute’s excellent machine vision knowhow. Hiottu will be part of our Metrix business, which includes also Mecano Group Oy and Metriguard Inc which have been acquired previously."
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber.