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News : Revenio Group Corporation to Sell its Contact Center Business
Sept 11, 2014 -- Revenio Group Corporation has signed an agreement to sell the entire capital stock of Midas Touch Oy, which represents the contact center business of Revenio's Technology and Services segment, to Ina Finland Oy. In line with its strategy, Revenio is focusing on health technology and the sale of Midas Touch Oy will support Revenio Group's growth aspirations in this segment.
The parties have agreed not to disclose the sale price. Revenio Group Corporation will record a loss from the divestment in its interim report for the third quarter. The loss will be entered as an extraordinary item and will therefore have no impact on the Group's financial guidance.
Mr Riku Lamppu will give up his position as the CEO of Midas Touch Oy but will continue to act as Revenio Group Corporation's Segment Director for Technology and Services and as the CEO of Boomeranger Boats Oy.
"Midas Touch is financially solid. It has a significant amount of expertise and 120 skilled industry experts. However, the company does not represent our core business and selling it was in accordance with our strategy. The money made from the sale will be invested in our current health technology development projects," explains Revenio Group's President and CEO Olli-Pekka Salovaara.
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Consultancy Advice
About Revenio Group Corporation:
Revenio is a Finnish health tech group whose core business lies in tonometers. The Revenio Health Tech segment comprises the business operations of Icare Finland Oy. The widely patented Icare product family is the current cornerstone of the Group''s success. Revenio is seeking vigorous growth in health technology, both organically and through acquisitions and mergers. The Revenio Group Corporation is listed onNASDAQ OMX Helsinki.
Published: Friday, September 12, 2014