Summa Equity has decided to take the next step in focusing Lin Education’s operations. Lin Solutions – the business area that focuses on digital tools, with related services and pedagogy – is acquired by the independent IT company Xllnc. Summa Equity will remain as the main owner of the software business in Lin Software, and the focus will be on realizing the potential in the Loops product.
Summa Equity acquired Lin Education in February 2017. Since its inception in 2007, Lin Education has played an important role in the digitization of Swedish schools by supporting municipalities, school leaders, teachers and students with special competence in pedagogy and technology. The corporate culture has been characterized by a strong drive to make a positive impact in schools, and as part of its strategy, the company has invested in developing software products for learning based on innovative pedagogy. One of these is the digital education product Loops, which was launched late 2017, targeting schools, companies and other organizations.
From the outset, Summa Equity has seen great potential in developing and scaling up Loops in the school market and in exploring new business opportunities outside the school market. In order to succeed in this, Summa Equity and Lin Education saw a need to create a clearer focus on software operations and add resources and skills required for scaling up. It was clear that the best thing for Lin Education was a clearer division between Lin Solutions and Lin Software, in order to better meet the different needs of the two operations.
“Summa Equity will now be able to focus on developing Lin Software further and building Loops for schools, companies and other organizations. Loops is a unique software product, and it has attracted a great deal of interest from customers in the school world and the business community. Since the launch of the new Loops product, which was made less than a year ago, we have seen an exciting development with customers who benefit from the pedagogy that Loops is based on,” says Tommi Unkuri, Partner at Summa Equity.
There is still a strong market trend in Sweden and the Nordic region to increase digitization of schools. The school market is therefore a niche, in the broader IT industry, which is expected to continue having strong growth going forward.
“As a pioneer, Lin Education has played an important role in the digitization of Swedish schools. We are very proud of this. That work will be intensified, by both Lin’s operations in their own domains,” says Josef Lind, Founder and Board Member of Lin Education.
Xllnc offers large corporations and organizations a platform to handle IT equipment during its entire life cycle. The service provides customers with predictability, control and increased productivity combined with reduced costs and minimized environmental footprint.
“For a long time, there has been interest from potential buyers of Lin Education’s operations. But it is only with Xllnc, who is a partner of Lin Education and who has been close to Lin Education, that time feels ripe for Summa Equity to sell. Xllnc has a lot to contribute with to Lin Solutions, and we believe that the merger will be very good for Lin Solutions,” says Tommi Unkuri, Partner at Summa Equity.