Eficode acquired Praqma from Sweden.

Finland M&A 20 May 2019
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Eficode, a Helsinki, Finland-based software company providing devops services, announced the acquisition of Praqma, a Copenhagen, Denmark-based software consultant operating across Denmark, Sweden, and Norway.

The transaction, which has financial details undisclosed, was made for acquiring 70% of Praqma shares. After the deal, the number of Eficode employees in all Nordic countries will increase to 300 people operating in Denmark, Sweden, Norway, Finland, the Netherlands, and Germany.

Praqma, founded in 2007 and led by CEO Leif Sørensen, specializes in DevOps and Continuous Delivery services. The company operates in Denmark, Sweden and Norway, has 46 employees and a turnover of EUR 5.5M in 2018.

Eficode, founded in 2005 and led by CEO Risto Virkkala, provides on demand services consisting of DevOps, software, automation, and design. The company has offices in Finland, Sweden, Denmark, the Netherlands, and Germany and expects about EUR 28M in sales in the fiscal year ending in June 2019.