Solita’s expansion boosted by the Apax Digital Fund
The controlling interest in Finnish digital transformation company Solita has changed hands from Vaaka Partners to the Apax Digital Fund. The investment will help Solita with its domestic and international expansion.
Solita provides a range of services, such as strategic consulting, service design, artificial intelligence, analytics, and managed cloud services, for its fast-growing international clientele. It employs more than 650 digital specialists in Finland, Sweden, Singapore and Estonia.
As such it fits in well with the strategy of the Apax Digital Fund, which is a global growth equity fund focusing on technology companies. The Apax Digital Fund acquired a majority stake in Solita for an undisclosed amount from Finnish private equity firm Vaaka Partners, while Solita’s management will get a minority stake in the business.
“We are highly committed to be our customers’ trusted advisor on their transformation journey towards a better future and are proud of our company’s accomplishments to date, which include a near tripling of our team and revenue over the last five years,” says Jari Niska, president and CEO of Solita. “We are now delighted to partner with the Apax Digital Fund as we embark on the next stage of Solita’s growth and believe their team’s insight and experience with other leading digital transformation companies will be invaluable as we continue to expand our business.”