A financing arrangement has been completed in Lemonsoft Oyj’s subsidiary Lixani Oy. As part of the arrangement, Redan Oy becomes a new investor in the company. Lemonsoft Oyj and some of Lixani Oy’s other existing shareholders also invest in the company.
As a result of the arrangement, Lemonsoft Oyj’s ownership in Lixani Oy decreases from the previous 51 percent to 40.6 percent. Following the arrangement, Lixani Oy will no longer be a subsidiary of Lemonsoft Oyj and will therefore no longer be consolidated as a subsidiary in Lemonsoft’s consolidated financial statements. Lemonsoft will remain a significant minority owner of Lixani Oy after the arrangement.
Lixani provides an ERP solution for the construction industry, bringing construction site management into one system and supporting real-time monitoring of project progress and costs as well as transparent flow of information between the different parties involved in a project.
Redan is a company specialised in renovation construction, with expertise particularly in pipe renovations and demanding apartment and commercial premises renovations. The purpose of the financing arrangement is to strengthen Lixani’s conditions for growth and enable the further development of the company’s software solution together with a new partner with strong understanding of the construction industry and Lixani’s target customer group.
“We see clear potential in Lixani’s solution and its ability to create value for customers in the construction industry. Redan brings strong industry expertise and customer insight to the company, supporting Lixani’s next phase of growth. The arrangement gives Lixani the best possible conditions for growth, while enabling Lemonsoft to retain a significant ownership stake in Lixani and participate in the company’s development over the longer term,” says Alpo Luostarinen, CEO of Lemonsoft Oyj.