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International Internet Magazine. Baltic States news & analytics Friday, 10.04.2020, 05:53

Estonia's Nortal divesting Swedish marketing automation division in MBO

BC, Tallinn, 18.02.2020.Print version
Multinational strategic change and technology company Nortal has announced selling off its marketing automation division in Sweden via a management buyout, informed LETA/BNS.

The marketing automation unit will be acquired from Nortal Group by the company's current management team in Sweden: Jonas Ander, head of Nortal's Swedish operations, and Mathias Jonsson, head of marketing automation. 

Following the management buyout of the marketing automation business, Nortal will continue serving the Swedish market with the rest of the company's offering.

The transaction is subject to receiving a waiver under Nortal AS existing bond loan in the ongoing written procedure. The price and other details of the transaction remain confidential.

According to Nortal CEO Priit Alamae, the company has been able to find only limited synergies between Nortal's core business and marketing automation; thus, management buyout comes as the next organic chapter.

Nortal entered the Swedish market in 2016 via the acquisition of B2B marketing technology and sales strategy company Element.

"Jonas Ander and Mathias Jonsson, who were also part of the core management team at Element, have set up a successful and acclaimed business over the years and will no doubt continue to build on that," Alamae added.

Nortal is a multinational strategic change and technology company whose clients include governments and leading businesses all over the world. Nortal operates in nearly 20 countries and employs 850 specialists in Europe, North America and the Gulf region.  

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