Castrén & Snellman contributed a chapter on Finland to the Chambers Technology M&A 2023 Global Practice Guide
Miika Junttila, Tuomas Honkinen and Jussi Mäkikangas contributed a chapter to the Chambers Technology M&A 2023 Global Practice Guide covering the law and practice of the technology M&A market and the recent developments in Finland.
At the beginning of the COVID-19 pandemic, there was a steep decline in M&A activity and also some decline in investments in general (especially in 2020). However, the pace quickly picked up in 2021 and reached record-breaking levels with Nasdaq Helsinki breaking the record for IPOs, with a total of nine listings in the main market and 23 listings in the First North Growth Market.
Given the market uncertainty due to the Ukraine situation and increase in interest rates, M&A activity again showed signs of minor deacceleration in 2022 (especially in the second quarter). Although IPO activity significantly dropped during 2022, trade sale transactions raised their profile as an exit route for investors. The lower deal volume was to some extent also offset by the high number of divestments and reorganisations that many large and medium-sized Finnish companies had to undertake in order to comply with the sanctions imposed against Russia.
New technologies attracting interest
The past two years have seen major interest and investments in new technologies and markets such as AI, robotics, and blockchain technology. These include:
- investment in IQM Finland (a Finnish producer of quantum computers);
- listing of Digital Workforce (an intelligent automation (IA) and robotic process automation (RPA) services provider); and
- an investment round in Tesseract Group (a provider of financial services and investment management in digital assets).
Read more about the technology M&A market in Finland
The second edition of the Chambers Technology M&A 2023 Global Practice Guide covers the lifespan of a technology company from incorporation to early funding and venture capital rounds and to the ultimate goal of becoming a public company or being sold at a high premium.
The coverage of the guide has been expanded this year, and it now addresses the same set of issues in 19 countries globally.
The guide can be downloaded here.