Aten’s comments on how Administer finalized the Sarastia deal.
Administer announced on Tuesday, as expected, that it had finalized the Sarastia business acquisition, and the business transfer to a new company (Sarastia Oy) will take place on April 1, 2026. This is the largest acquisition in the company’s history by revenue, making the Administer Group the market leader in public sector financial and payroll administration services. The arrangement offers clear value creation potential for the company if Sarastia’s profitability can be raised to at least a reasonable level in the coming years. Administer has not yet provided guidance for this year including Sarastia, but will do so in connection with its Q1 report. We will update Sarastia into our forecasts soon. We last discussed the potential offered by Sarastia in connection with our Q4 update.