Nordic Option supports Enhancell’s international growth

The Oulu-based software company Enhancell Oy, which has made rapid international growth, has agreed to start co-operation with the private equity fund Nordic Option Oy. Nordic Option will become a minority shareholder in Enhancell supporting the company’s growth with business expertise and a wide network of potential collaboration partners. Enhancell aims to become one of the most significant players in indoor cellular testing globally in the coming years.

“Enhancell’s business is focused on indoor cellular testing and network identification tools. Since establishment, the company’s vision has been to change the cellular testing market from old box solutions to new software-based solutions. The customer feedback we have received has been very positive, so we are on the right track,” comments Pasi Niemi, CEO of Enhancell.

“Since the 90’s, Oulu has had world-class testing expertise and Enhancell is another good example of this. The company’s founders are experienced professionals in this field and have innovated and developed a state-of-the-art testing solution, that has proven to have significant international commercial potential. At Nordic Option, we are extremely happy and excited to be able to support the international growth story Enhancell has successfully started” Teemu Puumalainen, Investment Director at Nordic Option states.

According to Niemi, 5G technology is rapidly gaining ground in the global market and significant investments are made by telecommunication companies in 5G. This will increase network testing needs in the coming years. Enhancell has a unique opportunity to continue its international growth with the expansion of the 5G market. From the customers point of view, the company’s product solutions are modern, flexible and cost-effective, and they fulfil the testing needs of 5G networks for indoor measurements. Due to these changes in the operating field, the future outlook for Enhancell looks promising.

Additional information:

Pasi Niemi, CEO Enhancell Oy,
pasi@enhancell.com, +358 50 395 7725

Teemu Puumalainen, Investment Director Nordic Option Oy,
teemu.puumalainen@nordicoption.fi, + 358 40 631 8362

About Enhancell Oy: A software company that focuses on testing and identifying wireless indoor networks. The company was founded in 2014 and has a subsidiary and office in addition to Oulu in Boston, USA. Enhancell Group’s turnover in 2019 was approximately EUR 2.9 million and the company currently employs 10 people. 

About Nordic Option Oy: A private equity fund that invests in growth companies in Northern Finland, whose main shareholders are Arvo Sijoitusosuuskunta, Partnera Oyj and the City of Oulu. The company aims to provide a northern alternative to enable the growth and internationalization of small and medium-sized enterprises.