Insider information until 28/9/2020 at 8:00 am
Unofficial translation of press release. In case the document differs from the original, the Finnish version prevails.
LeadDesk is one of the leading vendors of SaaS contact centre software in the Nordics. To strengthen its position especially in the enterprise customer segment, LeadDesk Oyj ("LeadDesk", "Company") is purchasing the entire share capital of Capricode Systems Oy. Based in Oulu, Capricode Systems is specialized in business critical, tailored customer service systems. The acquisition does not impact the Company's forecasts for 2020.
Capricode Systems delivers customised call and messaging solutions for demanding needs. The company has more than 20 years of experience in the industry and an impressive customer portfolio in among others the healthcare, energy, logistics and facility services industries. Their revenue in 2019 was €1.3 million and EBITDA €0.1 million. The majority of the revenue came from retainer agreements. The company employs 11 software development professionals.
The purchase price of €2.4 million will be paid at the time of implementation, estimated to be September 30, 2020. Out of the total purchase price, €1.2 million will be paid in cash considerations and €1.2 million with a private offering of 68,912 shares to the sellers. The issue price of the shares is €17.15 and is based on the average share price between August 23-September 21, 2020, weighted with the transaction volume. At the time of implementation, the new shares constitute approximately 1.5% of LeadDesk Oyj's outstanding shares. The cash consideration will be paid from the Company's cash assets. A new subsidiary to LeadDesk Oyj called LeadDesk Solutions Oy will be formed of Capricode Systems Oy. The subsidiary will be reported as part of the LeadDesk group starting from October 1, 2020.
LeadDesk CEO Olli Nokso-Koivisto:
"The acquisition of Capricode Systems is a fantastic addition to our growth strategy. I'm super happy that we are able to join forces, as together we are more than the sum of our parts. Together we can serve customer segments that are critical to the running of our society.
The acquisition strengthens LeadDesk's position especially in the enterprise customer segment, where we see exceptional growth potential both domestically and abroad. We are a growth company and will continue to make growth investments that build value for our shareholders. Capricode Systems is a prime example of such investments."Main benefits of the acquisition:
- LeadDesk strengthens its strategic position in the enterprise segment
- LeadDesk strengthens its foothold in industries critical to society, such as energy distribution, healthcare, logistics and facility services
- The acquisition significantly increases LeadDesk's competences in tailored customer service systems
- As a result of the acquisition, a software development unit will be founded in Oulu. The unit will strengthen LeadDesk's position in the software developer recruitment market.
LeadDesk is a SaaS software company that offers a cloud service for high volume customer service and sales. LeadDesk's business is international and fast-growing. The Company has grown to be one of the leading service providers in its industry in the Nordics. Over the course of its ten-year history, LeadDesk has proved the success of the company's business model in Finland and scaled it to six other European countries.
Capricode Systems CEO Tero Lepistö:
"We are thrilled about the possibilities this deal opens for us. The acquisition gives us a strong foundation for developing our custom solutions and services further. LeadDesk's resources also help in winning over new customers so a new world of opportunities opens for us.
Capricode Systems Oy Key Figures
000 EUR 2019 2018
Revenue 1 338 1 001
EBIT 5 13
EBITDA 73 94
Equity ratio, % -19% -67%
R&D costs in the balance sheet 131 166
Equity -62 -250
Balance sheet total 322 373
Forecast for 2020 remains unchanged
The Company will maintain strong comparable revenue growth and continue operating profitably. LeadDesk's mid to long term goal is to pay out dividends.
Board of Directors
+358 44 066 5765
Oaklins Merasco Oy, tel. +358 9 6129 670
LeadDesk in brief
LeadDesk is a fast growing and internationalizing software company, operating in the cloud-based software market in Europe. The company offers the LeadDesk cloud service for high volume sales and customer service and has grown to a leading cloud service vendor in sales and customer service in the Nordics. In 2019, the company's revenue was €12,4 million. The share of license revenue from abroad exceeded Finnish licence revenue in 2019 and was approximately 52%. LeadDesk's shares are traded in the Nasdaq First North Finland market under the ticker LEADD. The company has offices in seven European countries. The LeadDesk cloud service is used by over 1000 customers in 34 countries. (http://www.leaddesk.com)www.leaddesk.com