Information on the target
Custobar Oyj is a leading customer data platform (CDP) and marketing automation solution provider for omnichannel retail in Finland. Established in 2014, Custobar has developed a proprietary platform that integrates customer data from both online and in-store channels, facilitating the automation of marketing campaigns through emails, text messages, social media, and on-site promotions. The company reported a revenue of €5.3 million in 2025, with approximately 30% of this revenue generated from international markets. With a client base that includes around half of Finland's listed retail companies, Custobar has expanded its services to other Nordic countries, the Baltics, the Benelux region, and the DACH area, serving approximately 200 corporate customers with a dedicated team of around 20 employees.
Custobar's business model is characterized by a high level of recurring revenue, with over 90% of its income derived from ongoing contracts. The company has demonstrated consistent profitable growth, achieving an EBITDA of €0.6 million in 2025 and continuing this trend into 2026. Following the acquisition by Ilkka Oyj, Custobar will maintain its brand identity while becoming part of Ilkka's Data and Technology business area, further enhancing Ilkka's position in the marketing and technology sector in Northern Europe.
Industry overview in the target’s specific country
The Enterprise Software industry in Finland has experienced significant growth in recent years, driven by the increasing demand for digital transformation across various sectors. As businesses seek to enhance operational efficiency and customer engagement, the adoption of enterprise software solutions has become a strategic priority. This trend is particularly evident in the retail sector, where companies are leveraging technology to streamline operations and improve customer experiences.
Finland's robust technology ecosystem, supported by a strong emphasis on innovation and research, has fostered the development of numerous software companies specializing in enterprise solutions. The presence of a highly educated workforce and a collaborative environment among startups, established firms, and academic institutions has further propelled the growth of the enterprise software market. Additionally, government initiatives aimed at promoting digitalization have created a favorable landscape for software companies to thrive.
In the context of omnichannel retail, the demand for customer data platforms and marketing automation solutions has surged, as retailers strive to deliver personalized experiences to their customers. Companies like Custobar are at the forefront of this trend, providing tools that enable retailers to harness first-party data effectively. The increasing importance of data-driven decision-making in retail is expected to drive further growth in the enterprise software sector, as businesses invest in technologies that enhance their competitive edge.
Moreover, the COVID-19 pandemic has accelerated the shift towards digital solutions, with many retailers recognizing the necessity of adopting advanced software to adapt to changing consumer behaviors…