Enfo divests its minority share in subsidiary Zuite Business Consulting
Enfo and Norwegian Pearl Group AS have signed an agreement according to which Enfo divests its 30% ownership in the Swedish SAP consultancy Zuite Business Consulting to Pearl.
“The divestment is in line with our strategy. We aim to become a leading data integrator in the Nordics and to focus even stronger on cloud-related services,” comments Mikko Valorinta, CEO of Enfo.
“We are glad Zuite Business Consulting will get a new owner in Pearl. The 30% minority ownership did not optimally support our growth strategy. However, the transaction does not impact Enfo’s SAP operations in Finland, where SAP S4/HANA and migrating SAP on cloud continue to be growth drivers,” Valorinta continues.
Zuite has some 60 employees. After the transaction, Enfo has more than 400 experts in Sweden, supporting customers in areas such as integrations, applications on cloud, data management, and digital trust.
The deal is expected to be closed in the end of June. The parties have agreed not to disclose the price of the transaction.