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Innofactor Plc
Julkinen osakeyhtiö
(Public company)
Traded asNasdaq HelsinkiIFA1V
IndustryComputer software
FoundedEspoo 1983 (current business launched 2000)
HeadquartersEspoo, Finland
Area served
Key people
Sami Ensio (CEO)
Increase 66,1 million euros (2017)[1]
Decrease -1,0 million € (2017)[1]
Number of employees
Increase 613 (2017)[1]

Innofactor Plc is a Finnish software provider focused on Microsoft solutions [2] in the Nordic Countries. Innofactor delivers to its customers IT projects as a system integrator and develops its own software products and services. The focus area in its own product development is Microsoft's cloud solutions. In 2017 approximately one third of Innofactor's net sales came from recurring contracts. Innofactor's customers include over 1,500 companies and public administration and third sector organizations.[3]

Innofactor Plc is listed on the Nasdaq OMX Helsinki Stock Exchange.[4] In 2017 Innofactor’s net sales were approximately EUR 66.1 million, which shows an increase of 10.9% from the earlier year.[5]


Innofactor headquarters is in Keilaniemi, Espoo. Other offices in Finland are located in Kajaani, Kuopio, Lappeenranta Tampere and Turku. Offices in Denmark are located in Aarhus and in Copenhagen, offices in Sweden in Borås, Stockholm and Örnsköldsvik and offices in Norway in Bergen, Lysaker and Trondheim.[6]


The operations of Innofactor started when Risto Linturi contacted Sami Ensio in October 1999 and asked him to lead a new company. It was decided to establish the company on the foundation of a company called Yritysmikrot, a subsidiary of investment company R. Linturi, founded in 1983 and owned by Risto and Kaija Linturi. The company's current form of operations started on January 1, 2000.[7]

In 2006–2010, Innofactor grew by almost 50 percent each year. At the end of 2010 Innofactor Ltd made a reverse listing on the Helsinki Stock Exchange by acquiring Westend ICT Plc (formerly known as TJ Group), as a result of which the company name was changed to Innofactor Plc.[8] Innofactor was registered in the Trade Register on January 5, 2011, and its stock symbol in the Helsinki Stock Exchange became IFA1V on January 7, 2011.

In 2012 Innofactor acquired Bridgeconsulting A/S from its management. Bridgeconsulting was a Danish IT services company focusing on producing business intelligence solutions based on Microsoft technology.[9] Innofactor acquired also project and project portfolio management business from Tietotalo Infocenter.[10]

In June 2013, the acquisition of technology company atBusiness Ltd almost doubled Innofactor’s size. atBusiness employed approximately 200 people.[11][12]

In October 2013, Innofactor acquired Dynamic Team’s Microsoft Dynamics AX business from Tampere Finland[13] and in December 2013 Innofactor acquired Enabling Group in Denmark.[11]

In December 2015, Innofactor acquired a rapidly growing Cinteros from Sweden.[2]

In October 2016, Innofactor acquired Lumigate, a company specialized in Microsoft cloud. Lumigate operated in Norway, Sweden and Denmark with 70 employees.[14]

Innofactor's net sales on 2016 were EUR 59,616 thousand and the average number of personnel was 532. The market value of the share capital at the closing price of the review period was EUR 37,837 thousand.[15]

Awards and recognitions[edit]

  • Innofactor has been chosen as Microsoft's Partner of the Year in Finland in 2011 and 2015 [16]
  • Innofactor's founder and CEO Sami Ensio was elected as the Software Entrepreneur of the Year by Finnish Software and E-business Association Ohjelmistoyrittäjät ry in 2011[8]
  • According to Kauppalehti, Finnish commerce oriented newspaper, Innofactor was one of the most successful listed companies in Finland in 2013[11]
  • Together with the Hospital District of Helsinki and Uusimaa, Innofactor was chosen as the winner of the 2018 Microsoft Health Innovation Awards' Outstanding Innovation category with the virtual hospital solution.[17]


  1. ^ a b c "Innofactor Plc Financial Statement 2017 (IFRS)". Innofactor. Retrieved 2019-01-18.
  2. ^ a b Sjöström, Mikael. "Yrityskaupat ovat Innofactorin uhka ja mahdollisuus". Talouselämä (in Finnish). Retrieved 2019-01-17.
  3. ^ "Innofactor plc annual report 2017, page 34" (PDF). Retrieved 2019-01-16.
  4. ^ "IFA1V, Innofactor Plc, (FI0009007637) - Nasdaq". Retrieved 2019-01-17.
  5. ^ "Innofactor financial statement 2017" (PDF). Retrieved 2019-01-16.
  6. ^ "Innofactor - Contact Innofactor". Retrieved 2019-01-17.
  7. ^ "Innofactor - Innofactor's story". Retrieved 2019-01-17.
  8. ^ a b Taloussanomat (2011-11-25). "Sami Ensio valittiin vuoden ohjelmistoyrittäjäksi". Ilta-Sanomat (in Finnish). Retrieved 2019-01-17.
  9. ^ "Innofactor ostaa tanskalaista bi-osaamista". Tivi (in Finnish). Retrieved 2019-01-17.
  10. ^ Innofactor Acquires Project- and Project Portfolio Management Solutions Business from Tietotalo Infocenter
  11. ^ a b c Juvonen, Anna. "Tässä ovat pörssivuoden menestyjät". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-01-17.
  12. ^ Eskola, Hanna. "Innofactor ottaa kasvuloikan, ostaa atBusiness-yhtiön". Tärkeimmät talousuutiset | Kauppalehti (in Finnish). Retrieved 2019-01-17.
  13. ^ Sjöström, Mikael. "Innofactor ostaa Dynamic Teamin Tampereelta". Arvopaperi (in Finnish). Retrieved 2019-01-17.
  14. ^ "Innofactor osti itsensä öljymaahan". Tivi (in Finnish). Retrieved 2019-01-17.
  15. ^ [1]
  16. ^ "Innofactorista Microsoftin vuoden kumppani". Uutishuone (in Finnish). 2015-06-02. Retrieved 2019-01-17.
  17. ^ "Microsoft palkitsi suomalaisen keksinnön – terveydenhuollon virtuaalitalot rakennettiin verkkoon". Tivi (in Finnish). Retrieved 2019-01-17.

External links[edit]