A significant exit of Idean Enterprises Oy for Norvestia
31 December 2016, Norvestia’s Net Asset Value (and shareholders’ equity) was EUR 124.6 million. The effect of the sale on Net Asset Value corresponds to approximately 6 per cent in the first quarter of the year. According to market practice, the final purchase price is determined in the next two years following the exit. The parties have agreed not to disclose the purchase price but the exit has a significant positive effect on cash flow upon completion. Norvestia’s original investment in Idean was EUR 3.3 million.
Idean is a global design firm that works with the world’s leading companies, helping them create long-lasting relationships with their customers, through truly value-creating experiences. Idean’s core know-how is the design of different strategic customer and user experiences.
”Idean has been an excellent investment for us. Our goal was to take Idean’s design know-how global and in this we have succeeded well – Idean is the first Finnish-born design company to make a breakthrough in the US. We are proud that we have had the opportunity to co-operate with professionals of Idean. This transaction represents a marquee deal by any metrics and proof that Idean’s know-how is highly appreciated“, says Juha Mikkola, member of the Board of Idean and Senior Investment Director at Norvestia.
”The active cooperation with Norvestia has had a significant impact on the growth and development of our company, and we are very grateful to Norvestia for their support. Idean has grown profitably and our team today consists of over 150 designers, technologists and strategists. A significant part of our current customers are major global companies”, summarizes Risto Lähdesmäki, Founder and CEO at Idean.