IWA Accelerates Its Growth by Acquiring Helsinki-based Software Company Movila Oy
After growing steadily over the past few years, IWA accelerates its growth by acquiring Helsinki-based software company Movila Oy. The acquisition strengthens IWA’s service portfolio with Movila’s expert-level knowledge of implementing and operating business critical online services. As part of the transaction, Movila’s founder Kasper Parviainen also joins IWA as a shareholder.
“IWA and Movila have been working together already for some time. Mutually beneficial joint projects provided an excellent starting point for initiating discussions about deepening our partnership”, comments Kasper Parviainen, founder of Movila. “From now on, Movila’s customers are served by IWA’s over 40 head strong team of developers and other digitalization experts. At the same time, our know-how and expertise of e.g. high-availability and scalable Linux-based solutions benefits IWA’s demanding enterprise customers”, he continues.
“IWA’s business has developed very positively in recent years. We are aiming at reaching sales of around two million euros in 2017, with significant increase in revenues from abroad, especially from the Middle East”, explains Rasmus Roiha, IWA’s Chairman of the Board and Managing Director of Finnish Software Industry and Entrepreneur Association. “Everyone at IWA is very excited about Movila joining forces with us. This acquisition helps us to serve our customers even better, for instance Kasper’s know-how of blockchain technologies is unparalleled”, Roiha praises.
Founded in 2006, Movila has provided its customers with open source software development, server management, mobile application implementation and text messaging services. Movila’s key customers include for example fast growing Finnish genetic testing company Blueprint Genetics.
“We turn our clients’ problems and opportunities into web services and mobile apps. Our services range from developing service concepts to implementation, development and maintenance. IWA is known for our agility – we utilize modern open source software to provide our customers with unparalleled cost-efficiency and speed. Movila’s corporate culture is very similar to IWA’s – valuing innovation, flexibility and low hierarchy”, explains IWA’s CEO Rami Korhonen. “IWA is a growth company and I believe we will continue to seek growth through acquisitions also in the future”, Korhonen states.
IWA was founded in 2009 by four software entrepreneurs who believed that there is a smarter way to develop software. We help our clients to transform their businesses and processes through new digital solutions. Over the years we have worked with tens of customers both in Finland and abroad, with key customers segments including proptech – construction and real estate industries – and cleantech and providers of IoT solutions. Our reference customers include Rakennustieto, Talokeskus Group, Virta and several public-sector entities, such as Geological Survey of Finland. IWA has offices in Helsinki, Thailand and the United Arab Emirates. The company is 100% owned by its personnel and offers flexible remote working opportunities for it employees, among other perks.