BRUSSELS, BELGIUM- June 21, 2021- Destiny NV, Europe’s largest cloud communication and services platform provider, announced its acquisition of Sweden-based Soluno BC. By adding Soluno to the Apax France-backed Destiny group, this transaction establishes a new leading market force within the European cloud communication space.
This leap will trigger further investment in developing an innovative, market leading, SME-focused and scalable cloud communication and services platform provider. With deployment across all channels in both existing markets and new countries, this strategic acquisition provides Destiny with an unparalleled competitive advantage.
“This is the next level of Destiny’s big play to own the European cloud communication space. Our combined forces give us own IP, technology that is easy to adopt, use and integrate, great partners, talented local teams and ambition to invest in further developing our innovative and market leading UCaaS platform for SME’s, today and tomorrow”, said Daan de Wever, Destiny CEO.
Soluno was announced to be recognized as one of the top 20 leaders in growth and industry innovation by Frost & Sullivan in the 2020 UCaaS Frost Radar™ report. The two companies becoming one, was a more than logical choice. The acquisition gives Destiny an instantly strong position in Sweden and leads to globalization for Soluno.
“Soluno has constantly generated strong organic growth by providing our channels and end customers with innovation that enables easy to use and future proof business communications - today. By joining the Destiny family, our European vision is already a reality, and we will together transform the European UCaaS market”, commented Patrik Sörqvist, CEO of Soluno.
The combined Destiny group will comprise of more than 600 employees in 6 countries (Belgium, Netherlands, France, Sweden, Germany, and UK), and is expected to generate a turnover of €170m in 2021.
Q Advisors, a leading global TMT investment banking boutique, acted as the exclusive financial advisor to Destiny in connection with this transaction.
Read the full announcement here.
This marks our second transaction together with Q Advisors and is indicative of the value we see in their understanding of the European cloud communications landscape and their ability to optimize outcomes for Destiny’s management and shareholders. The team at Q Advisors committed senior-level resources to ensure we were able to execute on a tight timeline, and consistently offered great strategic advice on how to execute this transformative acquisition. We look forward to continuing our partnership with Q Advisors as our business expands.Daan de Wever, Founder & CEO, Destiny