Swedish marketing automation firm Element to merge with Estonian software developer Nortal
Swedish company Element, a B2B marketing and sales strategy and technology firm located in Northern Europe, is slated to merge with Estonian software developer Nortal via share swap. The merger will also mark a brand new service offering in the Estonian company's portfolio — revenue science.
While the merger will mark Nortal's expansion to Sweden, it will simultaneously mean the expansion of Element's service offering to the Baltics, Finland, Germany and the Middle East, where Nortal already maintains a growing presence. Nortal CEO Priit Alamäe said in a press release.
Through the merger, Nortal will acquire all shares of Element AB, while the latter's shareholders, including the company's management and employees, will join the ranks of Nortal's shareholders alongside the existing 34 shareholders who are all Nortal employees. Element CEO Jonas Ander, meanwhile, will join Nortal as its new Chief Marketing Officer.
“Strategy, technology and marketing are converging disciplines, the common denominator being big data," explained Ander. "Big data is a fundamental consequence of the digital marketing landscape. Nortal, being a thought leader in the field, is the partner we have been looking for to be able to deliver predictive marketing analytics, sustainable change and impact to our clients."'
Pursuant to the parties' agreement, the merger transaction value will be kept confidential, however Element financials will be consolidated into Nortal's financial results as of October 2016, bringing the group's total estimated revenue to 50 million euros in 2017.
Tallinn-based Nortal is a multinational full-service strategic change and technology company that provides services to governments and leading businesses around the world. It operates in nearly 20 countries, employing over 500 specialists who carry out high-quality, mission-critical and high-impact projects across Europe, the Middle East and Africa.
Element offers services within B2B sales and marketing processes, ranging from strategy consulting, process transformation marketing automation, CRM, content marketing as well as other marketing and sales software solutions. The Swedish company delivers a professionalization of their client's revenue processes, increased conversion of qualified leads to customers and shorter sales cycles. Element currently has operations in all Nordic countries, Germany and the Middle East, with offices in Stockholm and Helsinki.
As a result of the merger, the Swedish company will be bringing 17 marketing science consultants to Nortal.