Gofore sells product design business acquired with Huld transaction to CoE Group

The business acquisition agreement was signed today, 22 June 2026, and the transaction is expected to be completed around 1 September 2026, once the ongoing partial demerger of Huld Oy is finalised and the business being sold is incorporated. The entire share capital of the new company will be sold to CoE once the incorporation is complete. The business arrangement does not require approval from the competition authority.

The purchase price of the business being sold is estimated at EUR 6,4 million, subject to customary closing adjustments. Gofore expects to record an estimated capital gain of EUR 0,5 million from the transaction.

The staff of the product design and technical documentation business will continue in Gofore’s organization for the time being and will transfer to CoE’s employment once the transaction is completed. In connection with the transaction, Gofore and CoE have also entered into a comprehensive cooperation agreement, allowing both companies to offer complementary services to their customers.

- When it comes to products for the industrial and defense sector, Gofore’s core expertise is in combining the digital lifecycle, data, and software of physical products and production environments. The Huld acquisition significantly strengthened our digitalisation expertise in the industrial and defense sector, which will remain our focus going forward. Becoming part of CoE Group provides a natural new home for the product design, device design, and technical documentation business and its experts, where the team’s expertise is in strategic focus. In many projects, we will continue to serve our customers together, comments Gofore’s CEO Mikael Nylund.

- We are excited in welcoming approximately 120 new experts to Finland’s biggest small engineering office. Through this acquisition we significantly strengthen our know-how and ability to provide even wider and more multifaceted service entities to our customers. At the same time our expertise will broaden to benefit of both current and future customers. Most of all, we feel privileged in receiving a big group of planning and documentation experts to our organisation, as their know-how will further strengthen our ability to execute demanding projects even better, says CoE Group CEO Sami Kivioja. 

CoE Group is a growing Finnish design and consulting company with 180 experts, offering specialist services especially for the needs of green energy and industry. CoE represents top Finnish technology industry expertise and values the wellbeing and development of its work community. With this acquisition, CoE significantly strengthens its Machine & Product Engineering division, especially in mechanical design, and expands its ability to serve customers in industrial production facilities with automation, electrical, and mechanical design. CoE Group’s net sales were 12,3 million euros in 2025. 

More information about CoE Group:  

https://coegroup.fi/en/home/ 

Further information:
Mikael Nylund
CEO, Gofore Plc

tel. 040 540 2280
mikael.nylund@gofore.com