PRESS RELEASE
31.01.2024 Tallinn
BRS Networks Baltic is joining OIXIO group’s IT infrastructure and cybersecurity company OIXIO IT. Together, they will start preparations for expanding from the Baltic home market to export markets.
“First, we will start operations in Germany in the first quarter of 2024. BRS Networks Baltic brings significant experience in building and managing IT infrastructure for international industrial companies, and the merger supports OIXIO’s move to foreign markets,” comments OIXIO IT CEO Tauno Telvik.
“The joining of forces between BRS and OIXIO allows us to offer our clients in Estonia and around the world IT, digitalization, and cybersecurity services on a significantly larger scale. Additionally, BRS complements OIXIO group with thorough knowledge and experience regarding the IT needs and solutions of industrial clients, significantly increasing the group’s capability to offer comprehensive IT management services,” adds BRS Networks Baltic CEO Vahur Jõesalu.
The transaction will also lead to changes in the management of OIXIO IT. The current CEO, Tauno Telvik, will move to the OIXIO group’s board and take on the role of Chairman of International Ventures. The current CEO of BRS Networks Baltic, Vahur Jõesalu, will take on the role of board member and CEO of OIXIO IT AS. BRS Networks Baltic AS will merge with OIXIO group’s IT infrastructure and cybersecurity company OIXIO IT AS. To facilitate these changes, the OIXIO group and BRS Networks Baltic signed a Letter of Intent, which will be implemented in the spring of 2024.
According to Ivo Suursoo, the Chairman of OIXIO group’s board, international expansion is a logical step. “We see export potential for Estonian competencies in Germany. With the expanded team and management, we are fully ready to realize this,” says Suursoo.
Folkert Wierda, the information management director of BRS Networks’ largest client HANZA AB, says that BRS has been an important IT partner for HANZA. “As HANZA is growing vigorously, we need an IT partner that grows with us, both in size, geographically, and in terms of competencies. At HANZA, we warmly welcome the joining of forces between BRS Networks Baltic and OIXIO. The initiation of OIXIO/BRS activities in Germany aligns very well with HANZA’s growth in Germany and our increasing needs for IT support in that market,” says Wierda.
BRS Networks Baltic AS is an IT full-service company, primarily oriented towards the industrial sector, with its main location in Tartu. The company’s turnover for the fiscal year 2022 was 3.6 million euros, and it had 24 employees.
OIXIO IT AS is one of the largest companies in Estonia providing comprehensive IT infrastructure solutions and services, as well as cybersecurity. The turnover for the fiscal year 2022 was 17.9 million euros, and it had 63 employees.
OIXIO group includes OIXIO Group OÜ, OIXIO IT AS, OIXIO Digital AS, and OIXIO UAB (Lithuania). Following the transaction, the group’s total turnover for 2024 is projected to be approximately 40 million euros, with the number of employees exceeding 240.
Participating in export negotiations in Germany on behalf of OIXIO are Vahur Jõesalu and Tauno Telvik. Pictured together with the Site Manager of Hanza Electronics Mönchengladbach, Wolfgang Beyers, in the middle.
