Fast-growth web hosting business, Miss Group, has acquired Finnish based MMD Networks OY as part of its ongoing buy and build strategy.
MMD Networks primarily provides shared hosting and related services, with leading brands including mmd.net and verkko24.fi. MMD is the second acquisition that Miss Group has completed in the Finnish market, and complements the Euronic brand, which was acquired in April 2020. MMD Networks adds a further 6,000 SME customers to the Group’s existing 210,000 web hosting customers.
In February 2020, private equity investor, Perwyn acquired a majority position in Miss Group, headquarted in Sweden, to support the growth ambitions of the business through international expansion and ongoing M&A. MMD Networks is the fourth acquisition to be completed under Perwyn ownership and the thirteenth acquisition completed by Miss Group since 2018.
Mattias Kaneteg, Miss Group founder and CEO, said: “We have been really impressed with the strength of the MMD brand and customer base that the management team have built since the business was established in 2001. We think the opportunity to combine this brand and customer strength with Miss Group’s scale, deep expertise and ambition has great potential and will accelerate our growth in the Finnish market as part of our overall expansion plan.
“Businesses continue to focus their efforts on migrating or increasing their business online, and this trend shows no signs of slowing. We are committed to helping SMEs do business online by building the best-in-class provider of hosting, domain and the other services they need.”
Miss Group was supported on this transaction by:
- Legal advice – Squire Patton Boggs (Giles Chesher, Matt Canipa and Mona Mojtabavi) and Krogerus (Jenni Teurokoski)
- Financial due diligence – EY (Steven Kingham and Jace Swift)
- Corporate advisory – Anecta and Translink (Eric Forsner, Fredrik Ullberg and Ruben Moring)