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.
6.3.2023
Castrén & Snellman contributed a chapter on Finland to the Chambers Technology M&A 2023 Global Practice Guide
Jussi Mäkikangas & Tuomas Honkinen
Related services
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:
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.
Latest news
Latest references
G&W Electric – Acquisition of Safegrid
We advised G&W Electric with its acquisition of Safegrid Oy, a leading provider of intelligent grid monitoring solutions based in Finland. The acquisition accelerates G&W Electric’s long-term strategy to integrate intelligent monitoring and predictive analytics into its power distribution portfolio, strengthening its offering to utility customers worldwide. Founded in 1905 and headquartered in Bolingbrook, Illinois, G&W Electric is a global leader in innovative power grid solutions, with a presence in over 100 countries. The company is known for advanced load and fault interrupting switches, reclosers, sensors, system protection equipment, power grid automation, intelligent grid monitoring, and transmission and distribution cable accessories. Safegrid is a Finnish technology company headquartered in Espoo, Finland. The company develops the Intelligent Grid System®, a grid monitoring solution that combines instant-on wireless sensors with advanced analytics to deliver real-time insight into grid conditions, enabling utilities to identify emerging issues, anticipate failures, and reduce outage duration across medium and high voltage distribution and transmission networks.
Case published 8.5.2026
Kiwa – Acquisition of Sertio
We advised Kiwa in its acquisition of Sertio Oy, a Finnish notified body designated by the authority in accordance with the EU Regulation on in vitro diagnostic medical devices (IVDR). Sertio provides conformity assessment services in accordance with IVDR. Kiwa is one of the world’s leading testing, inspection, and certification companies, operating in over 35 countries.
Case published 7.5.2026
Metsäkonepalvelu – Acquisition of Junnonen Forest and the business operations of Lamerit
We advised Metsäkonepalvelu Oy in its acquisition of the entire share capital of Junnonen Forest Oy, a Finnish timber harvesting services company, and the timber harvesting services business of Lamerit Oy. The acquisition supports Metsäkonepalvelu’s growth strategy and strengthens the company’s position, particularly in southeastern Finland. Metsäkonepalvelu is a portfolio company of A. Ahlström Oy, a Finnish family-owned industrial owner. The company provides mechanical timber harvesting services to forest companies, large private forest owners, and the public sector in Finland and Sweden. Metsäkonepalvelu Group employs nearly two hundred forestry professionals.
Case published 6.5.2026
Scanreco – Acquisition of CrossControl
We acted as Finnish counsel to Scanreco in its acquisition of CrossControl. Mannheimer Swartling (Sweden) acted as lead counsel for Scanreco. CrossControl, founded in Sweden, is a high-tech supplier of advanced display computers and central vehicle computing solutions for industrial vehicles and machines. Scanreco is a world leading supplier of professional radio remote control systems to international machinery, heavy equipment, and crane manufacturers. The combined group comprises approximately 600 employees and generates annual revenue of around SEK 1.4 billion.
Case published 5.5.2026