Syslore Oy has been acquired by private equity-backed Escher Group

The shareholders of Syslore Oy have sold the company to Escher Group Holdings plc, a portfolio company of Hanover Investors Management LLP.

Helsinki-based Syslore develops high-performance address matching and recognition solutions for postal and logistics companies, helping them cut operational costs, maximize mail sorting automation, and deliver physical and digital mail streams more efficiently. Syslore’s products and solutions apply artificial intelligence, fuzzy matching, OCR/ICR, pattern recognition, image analysis and machine learning technologies to match and recognize addresses and other data with unrivaled accuracy and speed.

Escher Group Holdings, together with its subsidiaries, provides distributed messaging and data management solutions and services. The company develops, markets, sells, and supports enterprise-wide software applications for post office counter automation and distributed network communication. It offers postal solutions, including omni-channel strategy, postal counter automation, consumer engagement, e-commerce and logistics, digital mail solutions, and license and permit applications, grant solutions, e-government solutions, as well as professional services.

Oaklins’ team in Finland acted as the exclusive financial advisor to the shareholders of Syslore in this transaction.