Elisa to buy camLine for US$73 million cash
Finnish telecom operator Elisa has agreed to buy software maker camLine in an all-cash deal valued at US$73 million.
Confirmed Tuesday, the deal is aligned with Elisa's international growth strategy and increasing focus on industrial software, as well as boosting the Elisa Industrial Software unit and associated portfolio of Smart Factory solutions.
The telco has been delivering such solutions for five years.
In a statement, Lasse Nordlund, VP Elisa Industrial IoT, said: “The acquisition will speed up Elisa Industrial Software business growth in several industries. camLine has deep industrial expertise, long-term customer relationships, and strong market position. Elisa Smart Factory solutions with ML/AI capabilities complements camLine’s offering. This combination gives us opportunity to provide unique value for the customers and speeds up growth for both solutions."
Employing 220 professionals across eight countries, camLine is a software solution provider for manufacturing. Its global customer base includes semiconductor and electronics manufacturers, solar industry, advanced materials, and medical devices, and its solutions are being used by customers in more than 350 factories worldwide.
Together Elisa and camLine will provide data and AI-driven "intelligent manufacturing solutions" to markets around the world.
camLine’s CEO, Heinz Linsmaier added: “We are excited to join Elisa who is a strong partner giving continuity and further growth. Their technological and machine learning know-how is impressive and they have the capabilities to support companies through the digitalization journey in manufacturing. Together, we have ambitious goals, Elisa’s unique offering and ML/AI capabilities will help us become more competitive in the growing smart factory market.”