June 4, 2019
The daily brief: 4 June 2019
Hatch and Samsung are expanding 5G cloud gaming partnership to the US.
All the daily Finnish business news that works: Salcomp, Futures Platform, Hatch, Konecranes and Kuori make headlines.
Finnish electronic components manufacturer Salcomp is being acquired by Lingyi iTech, Futures Platform has raised one million euros, Hatch and Samsung are bringing 5G cloud gaming to the US, Konecranes has won a new order in the UK, and Kuori has received EU funding.
Finnish electronic components manufacturer Salcomp is being acquired by Lingyi iTech. The Chinese firm will buy all shares in Salcomp for 88 million euros, part of which will be used to pay off Salcomp’s bank debts. Founded in 1973, Salcomp manufacturers chargers and adapters for smartphones, tablets, computers and other smart devices. In addition to Finland, it has operations in China, Brazil and India.
Finnish SaaS company Futures Platform has secured one million euros in financing, including a loan from Business Finland and equity financing from old and new investors such as Gorilla Capital, Sangre and Anne Urrila. The funding will be used for the research and development of the next-generation Futures Platform product. Futures Platform’s foresight tool enables organisations to analyse alternative future scenarios and improve decision-making procedures.
Rovio subsidiary Hatch has teamed up with Samsung to bring 5G cloud gaming to the US. With the launch of the Hatch for Samsung game streaming app, owners of the flagship Galaxy S10 5G phone will be able to play over 100 games without any downloads, in-game purchases or limits. A one-month membership of Hatch Premium will be included in the purchase of a new Galaxy S10 5G. Hatch and Samsung have previously collaborated on 5G cloud gaming in South Korea.
Finnish industrial company Konecranes has received an order for two Konecranes Noell Straddle Carriers from British company Maritime Transport. The straddle carriers will be used for loading and unloading container trains at the Birmingham Intermodal Freight Terminal in the UK. The deal also includes an option for two more straddle carrier units.
Kuori, the Finnish company behind the giant touchscreen Yetitablet, has secured SME financing from the EU’s Horizon 2020 funding programme. Yetitablet operates on Android and is used in industries ranging from healthcare to education. The EU funding was secured with the assistance of Manager Finland and will be used to rapidly scale up international growth.
Good News from Finland is published by Finnfacts, which is part of Business Finland.
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