Acquisition of Mattersoft Ltd

init takes the next step in tapping into the Scandinavian and Baltic markets

Extension of the product portfolio and improved market Access

Joint offers also on the North American market

Expansion of development capacities in the areas of the Internet of Things and Software as a Service

Karlsruhe/Tampere, 21 February 2018.

It is a typical, Finnish success story. A team of young IT experts got together on Finnish Independence Day Eve in 2007 and formed a company. Ten years later, this company is one of the leading suppliers of software and services for intelligent traffic systems. The company is called Mattersoft Ltd and is now becoming part of the Karlsruhe-based init group, the worldwide leading supplier of planning, dispatching, telematics and ticketing systems for buses and trains. With the takeover of Mattersoft, init innovation in traffic systems SE is taking the next step in tapping into the Scandinavian and Baltic markets with their hardware and software.

However, for init the acquisition of Mattersoft Ltd reaches beyond this region. Tampere, where Mattersoft is headquartered, is Finland's software development hub. "With Mattersoft, we are acquiring a team of highly qualified and motivated developers and salespersons who, thanks to their excellent relationships with local decision makers, will be able to drive our business forward. A further plus is the know-how they have in new technologies in the areas of IoT (Internet of Things) and SaaS (Software as a Service). With its web-based offerings, Mattersoft is in a position to be able to complete even larger software projects, in just a matter of weeks. These skills enrich us and have great significance for the future", explains init CEO Dr Gottfried Greschner about the acquisition.

Strategic gain

It’s not just gaining qualified staff and development capacity that is of strategic importance for init. Also the extension of the product portfolio with various apps, a timetable simulator, track layout schematics and passenger information systems open up new market opportunities. In particular, the web-based Mattersoft solution for centralised traffic signal priority (TSP) is also of interest for other, larger markets such as the USA. init will be submitting joint tender offers together with Mattersoft in this area soon.

"Through init, Mattersoft will get the access to international markets that have been challenging for us so far. Our expectation is that revenues and results will rise steeply", says Mattersoft’s Managing Director Mika Varjola.

init has had the northern European countries on its expansion radar for decades. They have been successful in establishing flagship projects in major cities such as Copenhagen, Oslo and Stockholm. init established their own subsidiary company for Finland, which acquired its first major project in 2013, installing a control and ticketing system for the public transport authority in the city and seaport of Turku. The result was one of the most up-to-date ticketing and ITCS systems in the country.

Mattersoft is a leading supplier of software solutions for transport companies in Finland. init CSO, Dr Jürgen Greschner, is convinced: "The physical proximity of Mattersoft and the cultural affinity to the other Scandinavian and Baltic nations will help us greatly to tap into these markets even more successfully".

Acquisition of Mattersoft Ltd

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