Belgium’s Destiny acquires two Swedish companies to become Europe’s leading UCaaS platform provider

Zaventem, Belgium-based Destiny is a company that provides secure cloud communication solutions to enterprises. In a recent development, the company announced that it has acquired two Swedish companies Telepo and Soluno to form a cloud communications supplier to SMEs and service providers.

With these strategic acquisitions, Destiny claims it will instantly be in the top position in the European UCaas market.

Daan De Wever, CEO of Destiny says, “This is the next level of Destiny’s big play to own the European cloud communication space. Our combined forces give us our own IP, technology that is easy to adopt, use and integrate, great partners, talented local teams and ambition to invest in further developing our innovative and market leading UCaaS platform for SMEs.”

Financial details of the acquisitions remain undisclosed. Q Advisors, a global TMT investment banking boutique, acted as the exclusive financial advisor to Destiny in connection with this transaction.

Aim of this acquisition

Destiny, which is already a Telepo client, says Telepo’s UCaaS platform will be Destiny’s second platform, deployed group-wide and will help them in future expansions. As for Soluno, it has already been using Telepo’s platform, too, and this acquisition gives Destiny access to the Nordic market.

De Wever adds, “Our customers are always at the heart of all our decision making. It’s the increasing levels of service and innovation that they’ll enjoy that led us to take this unprecedented step. We’ll continue to develop human-centric communication services for the cloud, and make sure they serve all our client’s and partner’s ambitions in their local market and specific sector.”

Destiny mentions in a statement that this development will accelerate further investment in developing the SME-focused and scalable UCaaS platform – deploying it in the existing Destiny markets and in new countries, across all channels.

Technology synergy with Telepo

Telepo, previously a division of Mitel based in Stockholm, Sweden, is a cloud software provider offering Unified Communications-as-a-Service (UCaaS) and Fixed Mobile Convergence (FMC) solutions to service providers throughout Europe, Asia, and Africa. 

Founded in 2004, the company claims to differentiate itself in the market as a mobile-centric cloud platform that is built for mobile operators and service providers targeting SMEs and enterprises. The platform also offers a number of API integrations that enable maximum flexibility. Currently, Telepo has grown to serve 2 million seats across all customers.

Speaking on the development, Rami Houbby, General Manager at Telepo, says, “This is an important and transformational step for Telepo and its Service Provider partners, and I could not be more excited with the synergies between our companies. Destiny will be able to standardise on Telepo as its own IP for the group-wide platform to drive consistency and future growth. The Telepo team will benefit from Destiny’s strategy and resources to accelerate innovation and enhance their offering portfolio directly benefiting our service provider partners to compete and win in their markets.”

About Soluno

Soluno was founded in 2017 as a merger between Solus Business Communications and Uno Telefoni. The merger was made possible through reinvestment in SolunoBC by the new owner SEB Private Equity and the founders of Solus and Uno.

The company claims to be one of the leading UCaaS providers in Europe with more than 200,000 users in the cloud. Additionally, the company was announced to be recognised as one of the top 20 leaders in growth and industry innovation by Frost & Sullivan in the 2020 UCaaS Frost Radar report. 

The acquisition of Soluno gives Destiny an instantly strong position in Sweden and leads to globalisation for Soluno. It’s a win-win situation for both companies. Since Soluno was also using Telepo’s platform, there will be no technological changes for their employees and clients. The power coalition will invest in the growth and innovation of their platform and own IP services.

Patrik Sörqvist, CEO of Soluno, says, “Soluno has constantly generated strong organic growth by providing our channels and end customers with innovation that enables easy to use and future proof business communications – today. By joining the Destiny family, our European vision is already a reality, and we will together transform the European UCaaS market.”

Destiny – the secure cloud communication provider

Founded in 2008, Destiny offers telecom services that are safe, simple and scalable as well as smart-mobile and smart-fit to enterprises. The company’s annual turnover in 2020 was €90M, and currently, it has more than 600 employees in 6 European countries.

With the current acquisition, the combined Destiny group will comprise more than 600 employees in 6 countries (Belgium, Netherlands, France, Sweden, Germany and UK) and is expected to generate a turnover of €170M in 2021.

Daan De Wever concludes, “We welcome every new colleague to the Destiny family. Our combined power will change the European UCaaS market forever. Destiny has a track record of company integration that emphasises future growth, not short-term restructuring. In the coming period, we will develop a vision of how our combined roadmap of products and services will support our existing clients as well as winning new clients across Europe.”