Helmes signed an agreement to acquire a 75% shareholding in service design and digital transformation company Trinidad Wiseman (TWN).
The purpose of the transaction is to strengthen the companies’ competitiveness in international markets and expand their range of services. TWN will continue to operate as an independent company under its own name with existing management.
According to Helmes’ partner and member of the management board Andres Kaljo, the purpose of the decision is to work in a strategic partnership for faster growth in international markets.
“We are very happy that Trinidad Wiseman, a recognized leader in the field, decided to join Helmes. It will be a strong partnership for growth. TWN is a successful company with a similar work culture to Helmes and carries the same values as us. Helmes’ clients are enterprises, that expect versatile, top-quality services. In cooperation with TWN, we will become even more competitive internationally in the field of service design, data analytics, and AI,” said Kaljo.
Ander Tenno, CEO of Trinidad Wiseman, added: “Trinidad Wiseman has experienced strong growth over the years. We sought a partner who could help us expand to foreign markets with our service design, digital transformation, Atlassian, and AI/BI services. We chose Helmes for several compelling reasons. Helmes creates software systems that positively impact people’s lives. They have a proven track record of maintaining and growing companies. Additionally, we share strong organizational and cultural similarities, a common vision for the future, and a history of successful cooperation.”
Purpose of the transaction and plans for the future
The partnership opens new opportunities for both companies to expand in international markets — TWN’s specialization in service design, user experience design, data analytics, and AI services complements Helmes’ existing service portfolio.
Background of the companies
Trinidad Wiseman: 2023 turnover reached 16.9 million euros, the company employs more than 130 people. Company’s clients include Elisa, SEB Pank, City24, Telia, ERGO, Tallink, SK ID Solutions, Alexela, Tele2 and various Estonian public sector and European Union institutions.
Helmes: 2023 turnover exceeded 100 million euros, the company employs approximately 1,400 people. During the 33 years of operation, Helmes Group has grown into a global company, which creates business critical solutions for international organisations such as Airbus, Telia, Kühne+Nagel, CERN, the European Space Agency, OECD, etc. Helmes software development centers are located in Estonia, Latvia, Lithuania and Poland.
The transaction needs the approval of the Estonian Competition Authority to be completed, the process has started. The transaction was advised by Redgate Capital, Sorainen Law, Cobalt and PwC.
