Teqnion AB has signed an agreement to acquire all outstanding shares in Norband Ltd. Oy.
Norband Ltd. Oy, operating under the brand Nordic Wristbands, is a Helsinki-based company specialising in access control, identification, and RFID/NFC products for events worldwide. The company has over 1,000 active customers globally and serves premier events such as Formula 1, Tomorrowland, and various international festival brands, with customers spanning from Asia to North America and from South Africa to the Scandinavian Lapland.
The business dates back to 1994 and was founded by Jone Nuutinen. Since then, the company has grown into one of Europe's leading providers of event access control and closed-loop payment products. Norband is known for its reliable, high-quality, and sustainable RFID/NFC solutions, with 70% of its revenue derived from proprietary NFC products. Jone will continue in his role as CEO and will continue providing music festivals, sports events, and amusement parks with industry-leading solutions.
Norband has delivered close to €4 million in annual revenue on average, with robust margins over the past three years.
"From our very first discussions, it was clear that Teqnion shares our long-term vision for Nordic Wristbands. Daniel and his team understand both our industry and our ambition to continue expanding globally with reliable, high-quality NFC solutions for the events market," says Jone Nuutinen, CEO at Norband.
"Norband is our kind of company. A true niche specialist long-standing customer relationships, deep application know-how, and a light asset base. On top of that, it is really fun and a milestone for us to finally enter Finland," says Johan Steene, CEO at Teqnion.
The acquisition is effective immediately and is not expected to have any significant effect on Teqnion's 2026 fiscal year financials. The company will be part of Teqnion Nord.
Read more www.nordicwristbands.com and at www.teqnion.se.
For more information, please contact:
Johan Steene, CEO, phone: +46 73 333 57 33, E-mail: johan@teqnion.se
Daniel Zhang, CXO, phone: +46721555695, E-mail: daniel@teqnion.se
Teqnion AB
Dalvägen 14,
169 56 Solna
Phone: 08-655 12 00,
E-mail: info@teqnion.se
About Teqnion
Teqnion AB is an industrial group that acquires stable niche companies with good cash flows to develop and own with an eternal horizon. The subsidiaries are managed decentralized with support from the parent company. We operate in numerous industries with leading products, which gives us good resistance to economic fluctuations as well as solid industrial know-how. For us, it is central to focus on profitability and long-term sustainable business relationships. Teqnion's shares TEQ are traded on the Nasdaq First North Growth Market.
Redeye Nordic Growth AB is the company's Certified Adviser.