Lithuanian IT service company TeleSoftas acquires shares in German company

  • 2023-04-05

TeleSoftas, an IT solutions company, has recently become a shareholder in its partner, kurts toolbox. The Lithuanian company helped develop a mobile, contactless construction tool rental system for the well-known German brand, and is committed to building strong business relationships between the two countries. To celebrate this partnership, the companies embarked on an expedition to Kilimanjaro, where both their flags were proudly flown at the summit.

The company kurts toolbox, which focuses on the B2C rental of tools, is part of the bigger Kurt König Group – a prominent company in the construction, trade, and service industry, specializing in the rental, servicing, and sale of construction tools and machinery. The family-owned business, which has been operating for over 90 years and is currently in its third generation, is currently undergoing a significant digital transformation.

"Our collaboration with kurts toolbox began with a small project to develop a mobile application and has since evolved into a long-term partnership where we serve as their primary technology partner, implementing their IT systems. In addition to developing the contactless tool rental system for DIY enthusiasts via kurts toolbox, we also played a significant role in digitizing the processes of Kurt König's parent company together with their design, innovation & transformation Lab Vioki. As a result of our efforts and the trust we've built, we were able to acquire shares in their company kurts toolbox gmbh," explained Šarūnas Putrius, CEO of TeleSoftas.

According to Fabian Schuster, Business and Digital Transformation Strategist at Kurt König, the team at TeleSoftas has been instrumental in helping them become technologically advanced and equipped to meet the challenges of the future. Schuster speaks highly of his Lithuanian colleagues, praising them for giving the company the necessary tools to succeed in a rapidly changing digital landscape.

"TeleSoftas has been more than just a service provider for kurts toolbox over the past five years - they have become an equal partner for our lab Vioki and the whole group. The parties work closely together to ensure that smart technology and product design complement each other, resulting in a perfect symbiosis. With high-level professionals on both sides who freely share their knowledge, they function as one big team.", says Fabian Schuster.

According to Šarūnas Putrius, this partnership is not only a testament to the quality of his team's work but also a significant boost for the local IT sector. It serves as an example of how Lithuanian companies can become shareholders of well-known international organizations, creating opportunities for collaboration and growth within the industry.

Reflecting on the acquisition of shares in kurts toolbox, Šarūnas Putrius acknowledges that it may seem unusual for a Lithuanian business to acquire shares in a well-known German company. He notes that for a long time, they have been striving to reach the level of Scandinavian and other Western European companies. Now, not only have they achieved that goal, but they are also contributing to the growth of these companies through partnerships such as this one.

To mark the occasion, Putrius and Schuster decided to embark on a somewhat unusual adventure – an attempt to reach Africa's highest peak. Mount Kilimanjaro in Tanzania is 5,895 metres high.

Šarūnas Putrius reveals that he and Fabian Schuster share a passion for extreme experiences, and that this common interest led them to embark on an eight-day climbing trip together. During their discussions about business plans, they both felt compelled to pursue this adventure. This experience demonstrated the importance of corporate attitudes and values, reinforcing the notion that working together towards a goal produces greater rewards than working alone. The Tanzanian phrase 'Hakuna matata' embodies this belief, suggesting that the highest goals in life, such as the challenge of climbing a mountain, can be achieved through a positive attitude, unforgettable adventures, and friendship.

Recognition in Germany

Žydrė Palaimaitė, Product Manager at kurts toolbox, reports that the mobile app and rental system created by TeleSoftas has been gaining momentum in Germany. From the outset of the app's development until now, the company has received positive feedback from users. The app provides a unique and highly user-friendly experience for renting professional tools, which has been well-received by customers. Marco Ivers, head of the Vioki design lab and thus also responsible for kurts toolbox, commends that the perfect combination of technology and uncompromisingly good UX is outstanding. "We made something complicated so simple that some customers can't believe how easy it is - always driven by design."

Putrius believes that the key to the success of the systems developed by kurts toolbox is the close cooperation between partners, where TeleSoftas is not just a task performer, but an equal partner in making important business decisions. He thinks that this type of collaboration, where teams are empowered, trust each other and listen to each other, could become more common in the future. According to him, this is the most effective way to collaborate and achieve successful outcomes.

"Although our company is focused on IT solutions, we often become a technology partner to our clients where we add value to their business. However, I would like to emphasize an important detail – this relationship cannot be like that of a customer and a contractor. Together with the kurts toolbox and the Kurt König Group, we feel like a team from day one. We see where we can give each other advice – we learn, listen, and grow together. We measure a happiness index in our company – the team working on this project is among the happiest," shares Šarūnas Putrius, CEO of TeleSoftas. 

"Looking ahead, together we have many more peaks to climb. Our teams have new projects and goals that goosebumps are appearing. It feels like Kilimanjaro is just the beginning," says Putrius, delighted with the results and wishing to never forget the African wisdom - "Hakuna matata!"

About TeleSoftas

TeleSoftas is a leading product engineering and consultancy company. Its’ business model extends the definition of an outsourcing company as for almost 20 years company serves as a technical partner, providing full engineering solutions to its clients. TeleSoftas developed over 400 transformative software solutions in a diverse range of sectors, including telecoms, healthcare, logistics, transport, e-commerce, and finance for businesses around the world.  In 2022 TeleSoftas joined Estonian Tech giant Helmes Group and together established a community of over 1.500 IT specialists and business professionals.

About kurts toolbox

kurts toolsbox gmbh is the B2C brand for the fully digital rental of tools of the Kurt König Group. The company was spin-off five years ago and still represents the "digital speedboat" of the group. Within just a few years, the young brand has secured technological innovation leadership in the German B2C rental market and is considered a pioneer and prime example of the successful digital transformation of old, analog processes. In Germany, kurts toolbox offers fully digital tool rental at over 20 locations, which are used by thousands of registered users.