Takeoff Partners has concluded a successful exit as one of its portfolio companies, Avoset, is acquired by Eficode, a key player in Finland among the Atlassian partner businesses.
Founded in 2010 as a family business, Avoset is an Atlassian Platinum partner with solid expertise, especially in Atlassian Cloud. Avoset offers support, consulting, and license management services for Atlassian tools. The company is known for its substantial customer relationships in the public sector and high satisfaction and retention for over 250 customers, including DigiFinland, Nordlab, Valtori, VTT, Novatron, and Wihuri. Avoset has 20 employees, and its revenue in 2022 was 9,7 million euros.
In October 2020, Takeoff Partners invested in Avoset that already had plans to become Finland’s market leader of Atlassian consultancies, with international expansion in its long-term plans.
Eficode and Avoset have found a joint mission in all companies becoming software businesses
Quoting Eficode’s release on 8.8.2023:
”Avoset has broad expertise in Atlassian tools and cloud migrations. Their specialist skills and services complete our mission to build the future of software development,” says Ilari Nurmi, CEO of Eficode. “We welcome Avoset’s employees and customers to Eficode.”
“In recent years, we have significantly developed our skillset and have grown rapidly. Joining Eficode will be beneficial for both our people and customers. In the future, our clients can develop their Agile, DevOps, and ITSM practices with Eficode’s unique skills and services, while our team of professionals can offer their know-how to more customers in more countries,” says Tuomas Saranen, CEO of Avoset.
The acquisition enables Eficode to offer Avoset’s customers Eficode ROOT and Total Support services and its complete service offering for digital services. After this acquisition, Eficode is the biggest Atlassian partner in Finland and one of the largest worldwide.
"This acquisition marks a significant milestone in Eficode's strategy," stated Ko Mistry, Atlassian's Head of Global Channel. "By bringing together a more diverse range of Atlassian expertise under one roof, Eficode can now offer even more value to customers and help them unlock the full potential of teamwork."
Professional leadership and a solid growth mindset yielding a great outcome
"When investing in Avoset in 2020, we were impressed by the professionalism and the 'now let's execute on the plan' mindset of Tuomas Saranen and his team", says Markko Vaarnas, Managing Partner of Takeoff Partners and Chairman of the Board of Avoset.
"It has been our pleasure to work with Avoset's team for the last three years and to witness first hand how the company's solid vision of becoming a leading expert in Atlassian's solutions in Finland and beyond has become a reality", Vaarnas continues.
"Well done, guys!" says Kim Väisänen, Partner at Takeoff Partners. "We believe Avoset has found a great new home with Eficode, and the combined team with their versatile skills and expertise is well placed to take even bigger leaps forward as a European provider of Atlassian-related services."