The acquisition of Sweden-based companies Telepo and Soluno make them the number 1 leader in European cloud communication solutions for SMEs and service providers and places them amongst the biggest players in the world, with a €170m turnover and 2 million multi-tenant seats.
Brussels, 21 June 2021 – Destiny’s ambition of becoming the leading European, SME-focused, secure cloud communication provider is surging forward. Today, the Belgian secure cloud communication provider signed two strategic acquisitions that instantly launch Destiny to the top position in the European UCaaS market. The services of Destiny and Sweden-based Telepo already have proven to be a perfect match. Telepo’s UCaaS platform will be Destiny’s second UCaaS platform, deployed group-wide and be leveraged in future expansions. At the same time, Telepo strengthens Destiny’s Service Provider channel. With Soluno, also Sweden-based, Destiny adds a well-known UCaaS provider to the Destiny Group that gives the company access to the Nordic market.
This leap will trigger further investment in developing the innovative, market leading, SME-focused and scalable UCaaS platform – deploying it in the existing Destiny markets and in new countries, across all channels. As a result, Destiny creates a new market force in the UCaaS European market that has unparalleled competitive advantage.
Daan De Wever, CEO Destiny: “We are thrilled to announce this exciting news of the acquisition of these two fantastic and strong companies. Thanks to the support of our investor Apax for 18 months now, Destiny is reaching the next level of its big play to own the European cloud communication space. Combining forces with Telepo and Soluno gives us owned 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. It also reinforces the hunger to grow Destiny as the reference for our businesses and service provider audience. Our customers are always at the heart of all our decision making. It’s the increasing levels of service and innovation that they’ll enjoy that led us to take this unprecedented step. We’ll continue to develop human-centric communication services for the cloud, and make sure they serve all our clients’ and partners’ ambitions in their local markets and specific sectors.”
Technology synergy with Telepo
Destiny has been a loyal Telepo client for years, using their platform to deliver best-in-class UCaaS services in the Benelux region. Bringing in Telepo to the fold was a no-brainer move for Destiny, due to the proven success in the teams’ collaboration and the high-performing technology which Telepo consistently provided. The two companies believe in the importance of combining their power to advance and accelerate Telepo’s innovation velocity to build next-generation UCaaS services aimed at the European SME market and delivered via Destiny’s channels and strategic partnerships.
Rami Houbby, General Manager at Telepo: “This is a transformational step for Telepo and marks the start of an incredible new chapter for both companies as well as our service provider partners. Destiny will be able to standardize on Telepo technology for the group-wide platform to drive consistency and future growth. The Telepo team will benefit from Destiny’s strategy and resources to accelerate innovation and further enhance our offerings to better enable our Service Provider partners to compete and win in their markets. I am excited about the opportunities this acquisition introduces for our team and partners, and look forward to working with Daan and his team on driving a bright and successful future together.”
Power coalition with Soluno
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 also leads to globalization for Soluno. Since Soluno was also using Telepo’s platform, there will be no technological changes for their employees and clients. The power coalition will invest in the growth and innovation of their platform and own IP services.
Patrik Sörqvist, CEO of 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.”
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.
“We welcome every new colleague to the Destiny family. Our combined power will change the European UCaaS market forever. Destiny has a track record of company integration that emphasizes on future growth, not short-term restructuring. In the coming period, we will develop a vision of how our combined roadmap of products and services will support our existing clients as well as winning new clients across Europe”, Daan De Wever concludes.
“It has been a great pleasure working together with Soluno, and for SEB PE this marks the end of a fantastic journey. We are truly impressed by the growth and innovation of this company, wishing you all the best of luck going forward”, says Gustav Ecorcheville, Investment Director, SEB Private Equity.
“We would like to thank SEB PE for the support in growing Soluno the last couple of years. It has been nothing but a great experience working with you,” says Patrik Sörqvist, Group CEO, Soluno.
For more information please contact:
Christian Hed, CMO Soluno, Christian.firstname.lastname@example.org, +468 562 696 03
Destiny, founded in 2008, is originally a Belgian provider of secure cloud communication solutions for innovative enterprises. Their annual turnover in 2020 was 90 million Euro. Today, Destiny has more than 600 employees in 6 European countries and an expected annual turnover of 170 million Euro in 2021.
Destiny has a clear ambition: to be the leading end-to-end solution provider of secure business communications in Europe. Weaving together talent, technology, strategic service provider partnerships and sky-high ambition, Destiny is on course to win the European SME UCaaS market. Whether delivering innovation to business end-customers directly through its OpCos (Operating Countries) or via the long-established Service Providers’ channel, Destiny is committed to champion innovation, customer experience and value growth for all stakeholders.
More info: www.destiny.be
Telepo, based in Stockholm, Sweden, is a leading cloud software provider offering Unified Communications-as-a-Service (UCaaS) and Fixed Mobile Convergence (FMC) solutions to Service Providers throughout Europe, Asia and Africa. Founded in 2004, Telepo was designed from initial inception as a complete end-to-end, multi-tenant solution with fixed mobile convergence and ease of use as the top priorities. Telepo differentiates in the market as mobile-centric cloud platform, purpose-built for mobile operators and Service Providers targeting SMEs and enterprises with innovative cloud solutions and offering a significant number of API integrations that enable maximum flexibility. Today, Telepo has grown to serve 2 million seats across all customers.
Soluno is one of the leading UCaaS providers in Europe with +200.000 users in the cloud. Driving the future of Business Communications by offering a mobile-first concept through wholesale partners in Europe.