Norwegian state owned Nettbuss invests in T solutions10.03.2017
Norway’s leading bus operator, Nettbuss, will buy 15% of the Estonian technology company T solutions, specialising in developing and operating public transport ticketing systems. The companies have also signed a substantial agreement for the implementation of T solutions’ technology on Nettbuss commercial express lines in Norway and Sweden.
According to Andres Osula, Chairman of the Supervisory Board of T solutions, the Norwegians will become strategic investors in the company. “The technology company, which initially emerged from the IT department of the Tallinn Bus Station, has outgrown the status of start-up company and this transaction no longer qualifies as typical start-up funding.” He adds that even though T solutions is currently able to serve its customers and develop the product without extra funding, the investment by Nettbuss and their profound knowledge of the sector gives even greater leverage in becoming a key Global player in the field.
A pioneer of public transport ticket systems in Estonia, T solutions platform processes around eight million transactions annually and its services are used by over 40 coach companies across Europe. The company’s software platform is suitable for medium-sized and large providers of passenger transport operators who require complex multi-leg logistics management, dynamic pricing and marketing, and flexible responsiveness to market situation and demand. The head-office of the company with 45 employees is in Tartu.
Nettbuss is one of the largest bus operator in the Nordic region with a turnover of EUR 670 million, 3300 buses and 7400 employees, and more than 113 million passengers in Norway and Sweden using its services each year. Nettbuss is Scandinavia’s largest operator of long distance commercial coaches through its subsidiary Nettbuss Travel, which operates a network covering Norway, Sweden and Denmark.
Primus was honoured to assist T solutions and its existing shareholder T grupp AS (a member of Mootor Grupp) in the transaction. The legal team of Primus consisted of partner Ermo Kosk and senior associate Sandra Värk.