Thanks to its comprehensive offering and ability to support customers in practical ways, Takeoff Partners’ portfolio company Avoset has rapidly expanded its clientele in Finland. Now, it has acquired a fellow Atlassian consultancy Polar Shift to further enhance its offering, particularly in cloud migration, and is aiming on growing its share of the approximately 1,000 potential new customers in Finland before turning its sights abroad.
The leading Atlassian expert in Finland, Avoset Oy is merging with Polar
Shift Oy, which also focuses on Atlassian solutions. In a corporate
arrangement, Polar Shift will merge into Avoset.
"Together, Avoset and Polar Shift form a strong Atlassian center
of excellence with extensive and long experience in the Atlassian tools and
their versatile use," says Tuomas Saranen, CEO of Avoset.
The merger is expected to close definitively during approximately Q3 /
2022. In conjunction with the merge, Avoset will carry out an investment round
involving investment companies Takeoff Partners and Netprofile Growth Plus as
well as angel investors.
"Avoset has been
able to take great advantage of the growth of the market for Atlassian products
in Finland and at the same time increase its market share. By merging with
Polar Shift, we are gaining new skills to open up growth opportunities, which
the financial round will strengthen," says Markko Vaarnas, Chairman
of the Board of Avoset and Partner at Takeoff Partners.
Avoset was already Finland's most significant expert in specializing
only in Atlassian products, and the merger will strengthen this position. In
2021, Avoset's turnover doubled to EUR 5.8 million. This year, the company
intends to continue to grow and reach a turnover of close to EUR 10 million,
driven by the arrangement.
"Despite all this growth, we still have approximately 1,000 potential
new customers in Finland alone, so for the moment we are focusing on growing
our market share here. That said, we obviously already have our sights on
mapping out the potential moves after that; we are looking around and are open
to discussions on this front," Tuomas Saranen describes.
Atlassian and its partners have a long-term view
Atlassian is an Australian-based company that develops software for
organizations, developing design, project management and teamwork software that
are popular and particularly praised for their ease of use. The most known
products include Jira, Confluence and Trello. They are already used
internationally by more than 225,000 organizations and have a significant
market position in Finland as well.
The core of Atlassian’s business model is to rely on consultancy
partners for regional sales and support, which leaves more in-house resources
for development work, leading to product development that is always ahead of
competitors. In 2020, we interviewed Tuomas
extensively on his experiences in how vital Atlassian consultancies are for
companies using Atlassian products. Benefits include time and
cost saved, more sustainable IT infrastructures and much smoother operations.
According to him, the partnership with Atlassian has bright future
prospects from global perspective as well.
"Atlassian is still led by the original founders who have a very
forward-thinking mindset. The company is growing and the leadership is already
focused on identifying ways to utilize their tools to participate in resolving
some of the great emerging issues of our time, such as climate change," Tuomas
A new momentum for cloud migration
Globally, Atlassian is moving away from traditional server-based
products to cloud-based products for a variety of reasons including improved reliability, easier
management and better innovation capabilities. Atlassian has
announced that it will complete the move to cloud-based products by 2024, when
maintenance of server-based server products will end.
A large proportion of the work Atlassian consultancies do has to do with
supporting clients with this migration and related projects.
Avoset and Polar Shift have slightly different weightings when it comes
to their core competencies, which means both can draw from each other’s
Polar Shift focuses on demanding, self-hosted Atlassian environments
and manages challenging integrations across multiple systems. Thus, the merger
will allow Avoset to better help their customers transition from server-based
versions of Atlassian products to cloud-based products, while supporting their
customers in maintaining both environments during the transition. Leveraging
Polar Shift's expertise, Avoset can offer the Atlassian Data Center solution to
customers who are not yet able to migrate to the cloud, for example due to
Jesse Lahtinen, CEO of Polar Shift, says
the merger will also benefit the customers of the merging company.
Polar Shift's services to their customers continue to operate normally. The
merger allows us to boost our ability to offer our customers Atlassian's
cloud-based products, which are among Avoset's strengths," he says.
For more information, please contact:
- Tuomas Saranen,
CEO, Avoset Oy
+358 50 540 8088
- Markko Vaarnas, Managing Partner, Takeoff Partners
+358 40 540 3390 / firstname.lastname@example.org