January 28, 2020
DAILY BRIEF: 28 January 2020
Holvi has managed to work around the gloom of Brexit.
All the daily Finnish business news that works: InCap, Blueprint Genetics, Holvi and Bankify make headlines.
InCap goes shopping, Blueprint Genetics is bought by Quest Diagnostics, Holvi enters the UK, and Bankify gets cosy with Nets.
Helsinki-based contract manufacturer InCap has bought AWS Electronics Group for 16 million euros. The British electronics manufacturing services provider posted a revenue of 41 million euros and employed 436 people in 2019. The purchase aims to expand InCap’s portoflio in the UK and Central Europe, as well as open up new potential in the US and South-East Asian markets.
Quest Diagnostics, a US-based Fortune-500 company, has acquired genetic diagnostics company Blueprint Genetics for an undisclosed price. Founded in 2012, the Finnish company will continue operating independently while leveraging Quest’s reach and knowhow. Quest serves 50 per cent of the health systems and physicians in the US and will complement its offering with Blueprint Genetics’ solutions for the clinical genetic testing of rare inherited diseases.
Digital banking services provider Holvi will expand its business to the UK, according to Sifted. Holvi will target the region’s six million micro businesses, of which three in four are one-person operations. The startup provides a streamlined and agile business account that promises to lower the administrative burden of small businesses but will face a challenging and crowded market in the UK.
Danish-Norwegian electronics payment company Nets and Finnish fintech business Bankify have agreed to begin a strategic partnership. The partnership will allow Bankify to leverage Nets’ open banking system and Nets’ customers to access Bankify’s eight microservices. The services aim to enhance the user experience by enabling new use cases such as social finances, gamified savings and group payments. According to Bankify’s research, young generations require more interactive and personalised content also in the area of online banking.
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