Neotide has acquired Domus Bothnica in Palosaari. Kullas: “We are taking a long-term view”

Neotide Oy has acquired all the shares in Kiinteistö Oy Vaasan Ylioppilastalo. The sellers were the Student Union of the University of Vaasa’s real estate company VYY Holding Oy and Palosaaren Yrityskeskus Oy, each of which previously owned 50% of the shares. The real estate company now owns the Domus Bothnica building on the Palosaari campus, in which Neotide has been a tenant for some time. The deal was concluded on Thursday the 30th of November 2023.

We are very happy to have had the opportunity to buy the building we have been operating in since 2008,” says CEO of Neotide Oy, Johan Kullas“We take a long-term view in our business, and by owning the building, we can better develop our own operations to meet the demands of the future. Neotide is growing as a company, and we look forward to taking the next step through this transaction.”

After careful consideration, the Student Union of the University of Vaasa and its subsidiary VYY Holding Oy decided to relinquish ownership of the building,” says VYY Holding’s Secretary General Lauri Tuohiniemi. “The decision was based on discussions within the Executive Boards of the Student Union and its subsidiary and the Student Union’s Representative Council, as well as on analysis of their current situation. Relinquishing the building is also a concrete way of responding to the Student Union’s new strategy, which was adopted earlier this year.” 

The transfer of the Domus Bothnica building to Neotide is a natural step forward, following several negotiations this year,” explains Ulla Mäki-Lohiluoma, the CEO of Palosaaren Yrityskeskus, and continues: “The new owner knows the property well. Many of the buyer’s ideas for improving the property have also been very well received. At the same time, the transaction will allow us at Palosaaren Yrityskeskus to focus our resources more closely on the development of the strategically selected Wolffintie 36 complex.”            

The sellers were advised by Ernst & Young Oy in the preparation of the transaction. The purchase price will not be disclosed.

More information:

Johan Kullas
Neotide Oy
tel: 0400 863 636,

Lauri Tuohiniemi
VYY Holding Oy
tel: 044 324 8964,

Ulla Mäki-Lohiluoma
Palosaaren Yrityskeskus Oy
tel: 040 573 3004,

Domus Bothnica