Acquisition brings together end-to-end expertise in digital business
IT services company Bilot acquires Motley Agency, an expert in business development, digital strategy, design, and software development. The acquisition will create an end-to-end developer of digital business solutions, covering all stages of service development from strategy and planning to the implementation and maintenance of digital business solutions.
After the transaction, the companies will continue to operate under their current names. Motley Agency will become a Bilot business unit managed by Motley’s current CEO Jens Krogell. Motley Agency ‘s approximately 40 experts will remain in their current positions. The delivery capability will be strengthened through new recruits.
“The acquisition of Motley is a logical step on our systematic growth path to become an end-to-end supplier of world-class digital commerce solutions,” says Ville Himberg, CEO of Bilot. “As a result of this deal, we complement our offering in digital strategies, and we strengthen our expertise in designing and developing the e-commerce user experience. With the acquisitions of Motley now and Castor IT a year ago, our capabilities are considerably stronger.”
“The transaction is based on our shared view that having key competencies in a single entity is key to digital business solutions development. Business-to-consumer commerce is spearheading digital business development in a number of ways. Together with Motley Agency, we will be able to introduce the quality of digital consumer business into the business-to-business environment. We will be an end-to-end business driver to our customers, helping them catapult their strategies and ideas into implementation. I am particularly pleased with Motley’s hands-on approach to strategy and with their rock-solid design and software development teams,” Himberg sums up.
The transaction will be executed as a combination of cash and share exchange. Approximately 80 per cent of Motley Agency’s employees are shareholders in the company and, in the transaction, will become Bilot’s shareholders. Motley Agency CEO Jens Krogell will join Bilot’s management team. The merger is to be completed in October 2021.
“Joining Bilot takes the Motley story into its next chapter. During our six-year journey, we have grown into a business partner for our customers, employing 40 people and combining strategy, design, and custom software development. Together with Bilot, we will now be able to leverage this as part of Bilot’s end-to-end offering. Our shared customer potential will grow significantly, and we will be able to help our customers over a range of much broader needs.”
Bilot’s revenue in the first half of 2021 was approximately EUR 13.6 million. Bilot’s customers include, Reima and Wärtsilä. Motley Agency’s revenue in the financial year 2020 was approximately EUR 4.1 million. Motley’s customers include Posti, OP and Helen.
With the merger, the size of Bilot’s personnel will grow to around 260.
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