Blog - Grano — 15.02.2022 — min read time
Grano to sell SokoPro, its digital service for the construction sector, to the Swedish iBinder Group – aiming for the international market
Marketing and communications services company Grano is selling its digital project management service for the construction sector, SokoPro, to the Swedish iBinder Group. The sale price is EUR 45 million. SokoPro is the leading construction sector software product in the Finnish market, whereas iBinder is the market leader in the Nordic countries. The deal is expected to accelerate the international market penetration of SokoPro. Selling SokoPro also enables Grano to focus its efforts and investments on its most effective communications strategy. Grano will continue serving as the exclusive retailer of SokoPro in Finland.
Grano is selling its SokoPro business specialising in digital project management in the construction and real estate sectors to the Swedish iBinder Group, the Nordic market leader in construction industry software products. The deal will create a new company, SokoPro Oy, which eight persons from Grano who have worked in SokoPro product development, customer support, marketing and sales support will transfer to as senior employees. SokoPro Oy’s outstanding shares will be fully owned by iBinder. Grano will continue to serve as the exclusive retailer of SokoPro in Finland, and all currently valid client contracts will continue under the same terms.
The agreement on the sale was signed today, and the deal will be finalised at the end of January, which is also when the employer of the transferring employees will change to SokoPro Oy.
SokoPro already has approximately 90,000 users
SokoPro is a cloud service designed for the construction sector that facilitates document management during construction projects. It has been used in numerous projects ranging from individual building projects to demanding infrastructure projects. The service has approximately 90,000 users, of whom 10% reside abroad. The service is used daily by approximately 17,000 construction industry professionals.
“SokoPro is one of Grano’s hidden gems, the existence of which most people outside of the construction sector have not even been aware of. In the construction sector, on the other hand, it is a well-known and respected market leader. SokoPro’s potential in Finland is limited, however, which is why the time has now come to provide it with the internationalisation and development opportunities that the product deserves. For SokoPro, the deal will provide access to world-class software development resources. At the same time, Grano will continue to pursue its strategy of being the provider of the most effective communications with increased focus and stronger financial standing,” says Acting CEO of Grano Kimmo Kolari.
Deal to accelerate the internationalisation of SokoPro
The purpose of the sale is to fulfil SokoPro’s potential for internationalisation. iBinder is the leading provider of construction industry software in the Nordic market and thus well-equipped to make SokoPro an international success. Acquiring SokoPro allows iBinder to further expand its product portfolio, strengthening the global potential of its services.
“The Nordic countries are global pioneers when it comes to the digitalisation of the construction sector, and there is plenty of demand for their cutting edge expertise in Germany and England, for example. SokoPro deserves the best possible conditions for internationalisation. This deal is an excellent opportunity for everyone who has contributed to the development and sale of SokoPro. We are also happy that Grano can continue selling this premium product,” Kolari states.
Existing SokoPro customers will benefit from the deal as a result of the product being developed with the best possible resources. Furthermore, customers will gain access to an even wider range of products via iBinder.
“SokoPro will further strengthen the iBinder Group and the global potential of our SaaS-based information management solutions. The uninterrupted digital information flow of our expanding project platform facilitates collaboration between our customers and their partners, from the earliest stages of project planning all the way to long-term property management. In addition to this, the SaaS platform helps property owners manage new requirements related to climate reports, material choices and the EU taxonomy for sustainable economic activities. The acquisition of SokoPro also opens up appealing opportunities for additional sales in the Finnish market for us,” states President and CEO of the iBinder Group Per Hedebäck.
For more information, please see Panostaja’s stock exchange release.
For further information, please contact:
Acting CEO, Grano Oy
Grano is a Finnish multi-sector company that provides marketing and communications solutions to promote customers’ sales, brand and profit. Our unique community of experts is well-versed in both cutting-edge technologies and craftsmanship.
Grano employs approximately 900 persons across the country, from the Helsinki region to Lapland, and all of the company’s production is based in Finland.
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