HiQ Finland Oy has implemented the long-prepared separation of its business operations. Following the demerger, Frends' iPaaS and integration business, and HiQ's IT consulting will continue to operate as separate companies. This arrangement ensures the best possible platform for the development of both businesses.
"As a result of this demerger, Frends' focus is now clear, further enhancing our strategy execution as a global iPaaS growth company. Investments in Frends iPaaS product and services, as well as in implementation of our international growth strategy will continue at records levels over the next years. This year, we will build new global footholds by significantly strengthening regional sales organizations in Central Europe and Asia. We will also accelerate growth by building partnerships with local, regional, and global system integrators and software providers. As separate companies, business decisions will be more straightforward, with each organization focusing on the development of its own operations," commented Jukka Rautio, CEO of Frends.
The demerger will have no impact on the companies' day-to-day operations, including employees and customers. Both companies will also continue to be wholly-owned subsidiaries of HiQ International AB.
Frends is a leading enabler of digitalization and business process automation, at the forefront of the world's leading iPaaS platforms. Frends iPaaS allows for the development, management, and security of all integrations and process automations on a powerful platform with over 4,000 end-users globally. Currently, the Frends group comprises companies in Finland, Sweden, Poland, Germany, and Malaysia.
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