VMP Plc, a Helsinki-based HR services firm, announced that it completed its merger with Smile Personnel Services, a Finnish human resources services firm, creating a powerhouse HR services firm.

Both companies first announced the merger in July 2019 and was completed as a share exchange, in which Smile’s shareholders received 0.8087 new shares in VMP as share consideration for each share in Smile owned by them.

The combined company becomes an associated company of NoHo Partners and NoHo Partners becomes the combined company’s largest shareholder with a 30.27% stake. Correspondingly, Smile becomes a subsidiary of VMP.

The company also announced leadership changes.

Sami Asikainen, previously CEO of Smile, has been appointed as the CEO of VMP. Hannu Nyman will continue as the CFO of VMP.

Tapio Pajuharju, Kati Hagros, Liisa Harjula , Paul-Petteri Savolainen and Mika Uotila will continue on VMP's Board of Directors, and previous Smile Board members Timo Laine , Jarno Suominen and Timo Pine will start as new members of VMP's Board of Directors. Liisa Harjula was elected as Chairman and Jarno Suominen and Kati Hagros as members of the Audit Committee.