Sorainen Estonia is advising Nettbuss, Norway’s leading bus operator, on acquisition of 15% of Estonian technology company T solutions.
According to Andres Osula, Chairman of the Supervisory Board of T solutions, the Norwegians will become strategic investors in the company. He adds that even though T solutions is currently able to serve its customers and develop the product without extra funding, the investment by Nettbuss and their profound knowledge of the sector gives even greater leverage in becoming a key global player in the field. Including the Norwegian state owned company amongst shareholders provides unprecedented access to international contacts and promotes entry into new markets.
Comments Ståle Nistov, CEO of Nettbuss Travel in Norway, “Our customers are increasingly becoming digital, and taking our digital offering to the next level is fundamental to maintaining our position as the No. 1 express coach network in Scandinavia. We are confident that this partnership with T solutions will give us access to the most innovative technology and best knowhow in the industry”.
Nettbuss is one of the largest bus operators in the Nordic region with a turnover of EUR 670 million, 3,300 buses and 7,400 employees, and more than 113 million passengers in Norway and Sweden using its services each year. Nettbuss is Scandinavia’s largest operator of long distance commercial coaches through its subsidiary Nettbuss Travel, which operates a network covering Norway, Sweden and Denmark.
The Sorainen team consisting of partner Toomas Prangli and associate Kai Vainola, among others, is assisting Nettbuss throughout all stages of the transaction, including legal due diligence of the target as well as conducting negotiations and closing the transaction.