LocalTapiola invests in Project-IT

LocalTapiola General Mutual Insurance Company owns 25 percent of Project-IT Oy, a Samlink Group company. The current private shareholders of Project-IT and Oy Samlink Ab continue to be shareholders of the company. The contract was signed on September 11th, 2015. The contract price is not divulged.

Project-IT Oy is an expert organization established in 2007, specializing in the management of demanding IT projects. This growth company is renowned for its top-class expertise. It also produces consulting services for systems development and business development. In 2014, net sales of Project-IT amounted to EUR 3.6 million, and its net sales in 2015 are expected to increase to EUR 5.0 million. Project-IT has 23 employees.

“This financial investment in a growing, Finnish-owned company is compliant with LocalTapiola’s strategy. Project-IT is an interesting and profitable growth company,” says Juha Malm, Chief Investment Officer at LocalTapiola.

“The ownership arrangement further intensifies the operative cooperation between LocalTapiola and Project-IT and secures the availability of project-related expert services,” says Mikko Vastela, CIO at LocalTapiola.

“Expansion of the ownership base as well as the intensifying cooperation with LocalTapiola, brought about by the arrangement, will further accelerate the implementation of the company’s growth strategy and ensure that our services are in the future accessible to an increasingly extensive clientele,” says CEO Antti Hellberg of  Project-IT.

For further information, please contact

Juha Malm, Chief Investment Officer, LocalTapiola, tel. +358 50 59 43 473
Mikko Vastela, CIO, LocalTapiola, tel. +358 50 323 2983
Antti Hellberg, CEO, Project-IT, tel. +358 50 3866 503
Pentti Unkuri, CEO, Samlink, tel. +358 40 557 7050
LocalTapiola Group is a mutual group of companies owned by its customers. It serves private customers, entrepreneurs, corporate customers and organisations. The 20 regional companies with 280 offices around Finland constitute the core of LocalTapiola’s operations. As a mutual group of companies, LocalTapiola uses its profits for developing its services and customer benefits. The LocalTapiola Group was established when Local Insurance and Tapiola decided on a merger in 2012. LocalTapiola officially launched its operations at the beginning of 2013.

Samlink is a company having special expertise in demanding IT solutions, electronic transaction services and service integration. Samlink is a renowned supplier of efficient multi-channel IT services for the financial sector. The Samlink Group has approximately 460 employees, and its net sales in 2014 amounted to EUR 97 million. Samlink’s customers include Aktia Bank, Handelsbanken, Oma Säästöpankki, POP Bank Group, Hypo and the Finnish Savings Banks Group.

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