Nordic ID is a Finnish technology company that offers PaaS (Platform as a Service) – cloud services focused on real-time tracking, tracing and managing of assets flows and products. The company was founded in 1986 and has since transformed from supplier of readers to a global provider of smart solutions for retail and various industries using RAIN RFID technology.
“The paradigm change of the strategy that we have been implementing in order to become a services and solutions provider instead of being a hardware provider only has shown positive signs. It allows us to offer more comprehensive solutions to our customers and partners. I am very confident that this will also have a major impact on growth in the years to come,” said Juha Reima, CEO of Nordic ID.
The company turnover in FY April 1, 2017-March 31, 2018 was €8.9 million, of which 83% consisted of international sales. The company is profitable, with an EBITDA of 7% of the turnover. The company has approximately 50 employees.
The planned IPO amounts to approximately €5 million. The purpose of the IPO is to accelerate growth, to further develop the Radea software platform, acquire new software expertise by recruiting or acquisitions and extend operations in the US and in certain markets in Asia.