Telia acquires Finnish IT reseller Inmics for EUR 75M.

Telia, the Stockholm, Sweden-based telecom company owned by the Swedish government, announced getting into an agreement of purchasing the Jyväskylä, Finland-based Inmics Oy.

The transaction, made for 100% of the company at an enterprise value of EUR 75M ($88.4M) on a cash and debt free basis, will further strengthen Telia Company’s product portfolio of IT equipment and services targeting the Finnish SME segment.

Inmics, founded in 1989, acts as a local ICT-partner and reseller of workstations, IT-equipment and software and related managed services. The company has approximately 190 employees.

Based on the 2016/17 results, the purchase price corresponds to an EV/EBITDA multiple of 11.7x and a multiple of 9,7x including synergies that is expected to fully materialize from 2019.

Inmics will continue to operate as an independent subsidiary of Telia and start a close strategic cooperation with Nebula, another Finnish company providing cloud services to small and medium-sized companies and which Telia bought for EUR 165M ($) in 2017.