BlueCielo Buys Majority Stake in Finnish Software Company

Apr 15, 2010

BlueCielo ECM Solutions acquired a 70% stake in Kronodoc Oy, a Finnish company that creates document management software for the engineering and construction sector. With Korondoc's management taking over the remaining 30%, the previous owners, a collection of funds managed by Pohjola Captal Partners and Canelco Capital, ABB, Shawfield Overseas SA, and Novitra Investment Oy.

The Espoo, Finland-based company has worked on CERN, the European Organization for Nuclear Research, and specializes in cutting communication costs on large industrial projects. Terms of the deal were undisclosed.