Viria divests Hibox Systems to Accedo
The ICT group Viria announces the divestment of Hibox Systems to Accedo, a global leader in creating video experiences, headquartered in Stockholm, Sweden. Sellers are Viria and the Hibox founders Staffan Granholm and Andreas Öhman. The transaction will be executed on March 1.
Hibox Systems is a global provider of advanced interactive information and entertainment solutions for consumers and commercial applications. Hibox designs and delivers TV solutions for telecom operators, media companies, hotels, hospitals, and cruise ships. Hibox is headquarted in Turku, Finland and currently has 36 employees. The annual revenue of Hibox Systems was EUR 5.4 million in 2019 and the business has continued to grow profitably during 2020. Viria will record approximately EUR 5 million capital gains from the transaction for the financial year 2021.
Hibox has been part of Viria since 2007. Viria withdrew from telecom business a few years ago, and since then Hibox has played a part in Viria’s infotainment solutions towards the hospitality and health care segments. As Viria now focuses on the security and digitalisation service business for domestic B2B clients, it makes sense for Hibox to join forces with a global category leader.
Samu Konttinen, Viria CEO commented: “We are truly impressed having seen Hibox grow to a scale where it has an attractive global client base and a robust IPTV product. Furthermore, we are delighted it now becomes an important part of Accedo’s offering towards a larger global market. This transaction gives us increased focus to execute our core strategy within security and digital services, and we continue our partnership with Hibox and Accedo now rather as a reseller.”
Michael Lantz, Accedo CEO commented: “We are thrilled to be joining forces with the highly talented Hibox team. Their world class products deliver great customer value and we can’t wait to present our joint solutions to the market.”
Staffan Granholm, Hibox CEO commented: “We are excited to join Accedo’s global organisation. By combining the Hibox TV platform with Accedo’s expertise in creating ground-breaking video experiences, we will be able to deliver flexible and attractive TV solutions to customers worldwide.”
Viria: Samu Konttinen, CEO, samu.konttinen (at) viria.fi
Accedo: Helen Weedon, Communications Manager, +44 1570 434 632, firstname.lastname@example.org
Hibox: Staffan Granholm, CEO, tel. +358 50 5812968, email@example.com
Viria is an information and security technology solution provider that promotes digitalization in a secure way. Our operations combine strong expertise in business intelligence, digital business, information security and security technology with a customer-oriented and creative approach. The Viria Group consists of the parent company Viria Plc and its subsidiaries Viria Security Oy, Spellpoint Oy, Tansec Oy, Aureolis Oy, Bitfactor Oy and Hibox Systems Oy. Viria’s turnover in 2019 was MEUR 103 and it has nearly 700 employees.
Accedo helps the world’s leading video service providers deliver and grow engaging video experiences. Over the past 15+ years, we have developed a deep understanding of the video service ecosystem that helps us deliver scalable solutions for customers of all shapes and sizes. We provide a combination of the products and services needed to support our customers at every stage of the video business journey, from strategy and conception through to delivery and post-launch optimization. We help clients stay at the forefront of innovation by leveraging new technologies and business insights to gain and maintain a competitive edge. Accedo was founded in 2004 and today has over 450 employees in 16 offices across the world.