10. October 2024

EG acquires Timma, adding a strong Finnish market presence in the beauty & wellness segments

With the acquisition of the Finnish software company Timma Oy (“Timma”), EG A/S ("EG") is now one of the largest SaaS ("Software-as-a-Service") vendors in the beauty and wellness industry in Finland, Denmark, and Norway.

The demand for beauty and wellness SaaS in the Nordic region has seen strong growth over the recent years and is expected to continue to grow more than 10% per year, on average, over the coming years.

"Consumers are seeking convenient ways to find the best offers for hairdressers and beauty salons. By combining our industry expertise with Timma’s powerful salon management software and marketplace, we can elevate the experience for both consumers and beauty & wellness providers", says CEO Mikkel Bardram, EG.

"With Timma as part of EG, we are extending our market reach to Finland and we are strengthening our ability to help beauty & wellness providers to grow and manage their businesses profitably", says CEO Mikkel Bardram, EG.

This acquisition adds more than 10,000 customers in the beauty & wellness industry in Finland, Denmark, and Norway, with small but strong and emerging presence in Sweden and the Baltics.

Timma offers three flagship products: Timma Pro for salon management, Timma Marketplace for booking salon appointments, and Timma Pay for flexible and seamless payments.

EVP Johnny Iversen, Healthcare & Citizen Welfare, EG, says:

“Timma provides a unique salon management platform, combined with its leading marketplace for beauty and wellness professionals, that allows users to discover, compare, and book a wide range of hair, beauty, therapist and other wellness services”.

Through the easy-to-use app, consumers can quickly find salons in their area, offering the services they need at a time that fits their schedule.

“With the products from Timma, we can both service the consumers better and help beauty and wellness providers run an even more profitable business. I look forward to working with the Timma team and exploring the further potential of their excellent products as part of EG", says EVP Johnny Iversen, Healthcare & Citizen Welfare.

The CEO and co-founder of Timma, Lari Mykrä, is looking at expansion plans for more markets and countries, and he is happy with EG as the new owner:

"We have known EG as a capable and reliable competitor in the Danish and Norwegian markets. By joining forces, we are positioned to provide even stronger support to both our existing and future customers", says CEO Lari Mykrä.

With the acquisition, EG now has more than 100 dedicated specialists working with software made for modern beauty & wellness professionals.

According to plan, the closing of the deal will be on October 11, 2024.

The sellers and buyer have agreed not to disclose any financial details related to the transaction.

About Timma

Timma offers a smart solution to an everyday challenge. With Timma’s services people can easily find hair, beauty and massage services in their area, fast and at a fair price. Timma also offers entrepreneurs a digital booking and cashier system, that enables them to fill their empty time slots with new customers. Timma has offices in Helsinki, Oslo, Stockholm, Tallinn and Copenhagen.