February 4, 2020
DAILY BRIEF: An acquisition, a purchase, an investment, ventilation and an order
Education, renewables, gaming and various industry products are the talk of the day in Finnish business news.
All the daily Finnish business news that works: GameRefinery, Hanken & SSE Executive Education, Taaleri, Fintoil, Halton and Glaston make headlines.
GameRefinery makes an acquisition in the UK, Hanken & SSE Executive Education completes the purchase of HRM Partners, Taaleri and Fintoil target an investment in renewables, Halton delivers ventilation to Asia, and Glaston receives an order from VELUX.
Finnish data intelligence company GameRefinery has bought UK-based mobile insights provider Reflection.io for an undisclosed sum. The deal will see GameRefinery merge Reflection’s features into its platform in an attempt to increase revenue and downloads data. The added value will come from combining the data of both players from a total of 35 markets to provide broader data and deeper insights of mobile gaming trends.
Hanken & SSE Executive Education has bought HRM Partners, a Finnish a provider of professional training services. The companies will continue to operate separately for the rest of the year but undergo a re-shuffle in senior management prior to an eventual merger of operations. The combined turnover of the two companies was 6.4 million euros in 2019. According to chairperson of the board at Hanken, Johan Sundell, the agreement is a merger of equals that paves the way for an offering of world-class professional education programmes. Hanken & SSE Executive Education is currently ranked first in Northern Europe and 16th in the world among executive education providers by the Financial Times.
Hanken & SSE Executive Education
Financial services company Taaleri will invest over 100 million euros, together with crude tall oil producer Fintoil, in a refinery in the Port of HaminaKotka. Signed on Tuesday, the agreement will make Fintoil the world’s fourth largest producer of crude tall oil when the refinery is completed in 2022. The investment anticipates an surge in demand for biofuels created by a forthcoming piece of EU legislation designed to steer member states towards the goal of increasing renewable energy’s share to a third of aggregate energy consumption by 2030.
Port of HaminaKotka
Indoor air solutions provider Halton has secured an order for a kitchen ventilation system for the Jeju Dream Tower project in Jeju City, South Korea. The 900 000-euro delivery will be made by March 2020. Halton will provide the landmark project various professional kitchen ventilation solutions, including air-cooling cold mist kitchen hoods, ventilated ceilings and human-centric lighting. Having operated in South Korea for the past ten years, Halton is in good stride to cash in on the Asian growth market.
Glass technology company Glaston has welcomed an order for an insulating glass line from JTJ, a subsidiary of Denmark’s VELUX. Set to be delivered by the third quarter of 2020 to the company’s premises in Sonneborn, Germany, the line adds to the three existing high-speed glass lines developed by Bystronic, a glass tech company acquired by Glaston in spring 2019.
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