Oscar Software was acquired by Panostaja in a deal valuing the company at EUR 9.1M.

Oscar Software Group Oy, a Tampere, Finland-based ERP developer announced getting into an agreement for being acquired by Panostaja Oy.

The sale price of the company’s entire share capital (100%) is approx. EUR 9.1M ($10.8M). After the acquisition Panostaja owns 55% of the new group while the company’s management and Oscar’s current majority shareholder Jukka Hakosalo and CEO Simo Salminen will continue as the company’s significant minority shareholders in addition to other key persons.

Oscar Software Group Oy, established in 2005 and led by CEO Simo Salminen, is a software service company specialized in the development of enterprise resource planning (ERP) systems and various business services. In addition to the diverse ERP systems, Oscar provides financial management and HR services as well as software for e-commerce and services for online business. The company has around 100 employees and 800 customers and its HQ is located in Tampere. During the financial period ended on June 30, 2017, the net sales was at approx. €7.5 million.