Nordic M&A Tech Refresh - Selected deals: Updated 13.09/2020 Updated every Monday morning, here - Fremdrift
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Nordic M&A Tech Refresh Selected deals: Updated 13.09/2020 Updated every Monday morning, here 1 | 39
Nordic M&A Tech Refresh Contents Selected deals: 2020 Week 37 (07 sep – 13 sep) 3 Selected deals: 2020 Week 36 (31 aug – 06 sep) 4 Selected deals: 2020 Week 35 (24 aug – 30 aug) 6 Selected deals: 2020 Week 34 (17 aug – 23 aug) 8 Selected deals: 2020 Week 33 (10 aug – 16 aug) 10 Selected deals: 2020 Week 32 (03 aug – 09 aug) 11 Selected deals: 2020 Week 31 (27 july – 02 aug) 12 Selected deals: 2020 Week 30 (20 july – 26 july) 13 Selected deals: 2020 Week 29 (13 july – 19 july) 14 Selected deals: 2020 Week 28 (06 july – 12 july) 15 Selected deals: 2020 Week 27 (29 june – 05 july) 16 Selected deals: 2020 Week 26 (22 june – 28 june) 17 Selected deals: 2020 Week 25 (15 june – 21 june) 18 Selected deals: 2020 Week 24 (08 june – 14 june) 19 Selected deals: 2020 Week 23 (01 june – 07 june) 20 Selected deals: 2020 Week 22 (25 may – 31 may) 22 Selected deals: 2020 Week 21 (18 may – 24 may) 23 Selected deals: 2020 Week 20 (11 may – 17 may) 24 Selected deals: 2020 Week 19 (04 may – 10 may) 26 Selected deals: 2020 Week 18 (27 apr – 03 may) 28 Selected deals: 2020 Week 17 (20 apr – 26 apr) 29 Selected deals: 2020 Week 16 (13 apr – 19 apr) 31 Selected deals: 2020 Week 15 (06 apr – 12 apr) 32 Selected deals: 2020 Week 14 (30 mar – 05 apr) 34 Selected deals: 2020 Week 13 (23 mar – 29 mar) 36 Selected deals: 2020 Week 12 (16 mar – 22 mar) 38 Selected deals: 2020 Week 11 (9 mar – 15 mar) 39 2 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 37 (07 sep – 13 sep) Acquisitions, mergers and divestitures ► Segulah-backed IT-Total, Sweden-based IT infrastructure services provider, merges with Devinix, Sweden-based provider of hybrid cloud solutions, including IP-networking, co-location and IT operations https://bit.ly/2FuOA5Y ► Challenger Mobile, Sweden-based provider of mobile IP telephony, acquires Battlecamp, Sweden- based mobile game developer. Battlecamp to be rebranded as SafeLane Gaming https://bit.ly/2RpYFDT ► Visma, Norway-based European leader in cloud business solutions, continues on its Dutch strategic expansion by acquiring Cash Software, Netherlands-based business software specialist https://bit.ly/2RnfZJB ► Conscia, Denmark-based provider of IT infrastructure, acquires Credocom, Denmark-based provider of cybersecurity solutions https://bit.ly/3kc7iOH ► Dustin, Sweden-based Nordic IT provider, acquires Exato, Denmark-based provider of cloud and cybersecurity solutions https://bit.ly/3mg3rlv Growth capital ► QuadSAT, Denmark-based drone startup for testing and calibrating antennas, raises 2 EURm in Pre-Series A investment round from Seraphim Capital, Vækstfonden, and Helge Munk. The money will be used to productize its technology in a bundled drone-and-software product https://bit.ly/2Ftyn19 ► 2021.AI, Denmark-based governance platform for AI, raises 2 USDm from Innovation Fund Denmark https://bit.ly/3it37xy New funds ► Superhero Capital, Finland-based venture capitalist, announces the first close of its second seed fund at 30 EURm. The fund plans to invest in 25 seed-stage startups in Finland and Baltics over the next 4 years https://bit.ly/32qmHES 3 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 36 (31 aug – 06 sep) Acquisitions, mergers and divestitures ► Mercell, Norway-based leading Nordic digital tendering and procurement platform, acquires Comcare, Denmark-based post-award, contract management and e-procurement SaaS provider https://bit.ly/2R1Siq8 ► Summit Partners-backed SiteImprove, Denmark-based global leader of website experience and digital marketing optimization, acquired by Nordic Capital https://bit.ly/2EVBHC4 ► Segulah-backed IT-Total, Sweden-based IT infrastructure services provider, acquires EnvokeIT, Sweden-based provider of cloud and digital workplace services https://bit.ly/3i7qeNN ► GRO Capital-backed Trifork, Denmark-based global software developer, acquires Nine A/S, Denmark-based software developer for the public sector https://bit.ly/2EXNHmy ► Techstep, Norway-based Nordic provider of Managed Mobility Services, acquires Optidev, Sweden- based Nordic supplier of turnkey mobility solution for the transportation, logistics, and public safety sectors https://cisn.co/3jY0Wm5 ► Hiddn Solutions, Norway-based cybersecurity company, to acquire Arribatec, Norway-based software consultancy https://bit.ly/3jSqWzc ► HeroBase, Denmark-based cloud contact center software provider, acquired by Enreach, Netherlands-based provider of software-based IP telephony and backed by Waterland Private Equity Investments https://bit.ly/35aJ6YF Growth capital ► Soundsboks, Denmark-based provider of portable sound systems, raises 52 DKKm in capital investment round led by Heartcore Capital, Vækstfonden, and Jägermeister through M-Venture https://bit.ly/2R2P9Gp ► Earth Science Analytics (ESA), Norway-based AI-driven petroleum geoscience software, raises 75 NOKm in Series B investment from Sumitomo Corporation, Wintershall Dea Technology, and Equinor Ventures https://bit.ly/3h6X6F6 ► Saga Robotics, Norway/UK-based developer of autonomous agricultural robots, raises 9,5 EURm from Nysnø Climate Investments, ADM Capital Europe LLP, Rabo Food & Agri Innovation Fund, and Propagator Venture https://bit.ly/3lWwpqn ► Industriens Fond awards 8,1 DKKm to 50 Danish robotics companies to accelerate their international growth via its new Global Growth Robotics accelerator program https://bit.ly/321YlRU 4 | 39
Nordic M&A Tech Refresh ► MapsPeople, Denmark-based indoor navigation solutions provider, raises 38 DKKm from Vækstfonden https://bit.ly/2R05DiF ► GamerzClass, Denmark-based provider of masterclasses in gaming and e-sport, raises 1 USDm from Bumble Ventures, TrueSight Ventures, Vækstfonden, business angels and existing investors https://bit.ly/35cyqZy 5 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 35 (24 aug – 30 aug) Acquisitions, mergers and divestitures ► Kanari (previously Red Ocean Technology), Norway-based software provider for analytics applications, acquired by Adelis Equity Partners https://bit.ly/32T4FdN ► SpectrumOne, Sweden-based data visualization platform for marketers, acquires Å-Data Infosystem, Sweden-based developer of software solutions for public and private SME’s https://cisn.co/2EECFCp ► Corsearch, US-based trademark and brand protection company, acquires TrademarkNow, Finland- based start-up developing an AI-based trademark search and watchlist platform https://bit.ly/32GhBDs ► Accel-KKR acquires majority stake in NAVTOR (from Smedveg Capital), Norway-based provider of cloud-based e-navigation solutions for the maritime industry https://bit.ly/3hJ3PGm ► Sympa Oy, Finland-based provider of HR software, acquired by Providence Equity Partners. Previous owners, Alfvén & Didrikson, to retain minority stake alongside founders https://bit.ly/2EEKS9F ► MAG Interactive, Sweden-based mobile game developer, acquires Sventertainment, Sweden-based developer of the trivia game app Primetime https://bit.ly/31GPCo7 Growth capital ► Supermetrics, Finland-based provider of marketing metrics analytics software, raises 40 EURm from Highland Europe and IVP https://tcrn.ch/34NEYOa ► Grant Compass (LegatBogen.dk), Denmark-based search platform for funds and scholarships, raises 28 DKKm from SEED Capital, Vækstfonden, and North-East Family Office https://bit.ly/3gBmO4w ► Challengermode, Sweden-based e-sports platform, raises 12 USDm from Alibaba Group’s global investment arm, eWTP Innovation Fund, Telia Ventures, GP Bullhound, Back in Black Capital, and Zlatan Ibrahimovic https://bit.ly/2QA1BNK ► Open Payments Europe, Sweden-based open banking platform, raises 3 EURm from Industrifonden, and existing investors Brightly Ventures, Luminar Ventures and angel investors https://bit.ly/2YMUbLA ► Grid, Iceland-based developer of platform for turning spreadsheet into secure web documents, raises 12 USDm from NEA, BlueYard Capital, Slack Fund and Acequia Capital, among others https://cisn.co/2DbeIBS 6 | 39
Nordic M&A Tech Refresh New funds ► Seed Capital announces 67 of 135 EURm raised for its fourth seed-stage fund, targeting tech start-ups and companies in Denmark https://bit.ly/3bev09F 7 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 34 (17 aug – 23 aug) Acquisitions, mergers and divestitures ► Devoteam, global IT consultancy, acquires 70% stake in Inviso, Denmark-based provider of business intelligence and data analytics https://bit.ly/3jbY2cH ► Symbrio, Sweden-based provider of software for the installation industry, acquired by Constellation Software Inc’s Volaris Group, a vertical market technology provider https://bit.ly/32k057L ► ATS AB, Sweden-based 3D digital software and equipment provider, acquired by FARO Technologies, Florida-based 3D measurement, imaging and realization software and equipment provider https://bit.ly/2FGQQqD ► Bilot, Finland-based software and IT service provider, to merge with CastorIT, Finland-based SAP solutions provider https://cisn.co/2YvmxtM Growth capital ► Cobalt.io, Danish-born cybersecurity platform for penetration testers, raises 29 USDm in Series B led by Highland Europe https://bit.ly/2FRvNlt ► Quuppa, Finland-based provider of real-time location systems, raises 20 EURm from Bocap and TCG Oy https://bit.ly/2Ex2fsM ► Hiber, Sweden-based provider of web platform for user-generated games, raises 2,25 USDm in its second round of funding by Luminar Ventures, Wild Sloths, Bumble Ventures, Sybo, Konvoy Ventures and GFR Fund https://bit.ly/3jbY4Bl ► Smoc.ai, Norway-based chabot and advertisement SaaS, raises 3,6 NOKm in funding round led by Skyfall Ventures https://bit.ly/32gdQod ► Zuuvi, Denmark-based platform for designing banner ads, raises capital from Weco A/S https://bit.ly/2YuwtDP ► Visma, Norway-based European leader in vertical software, receives investments from new and existing investors, valuing the company at 12,2 billion USD https://bit.ly/2Qmo0he ► Adnavem, Sweden-based SaaS marketplace for transport and logistics, raised 4 USDm by Runa Capital and Spintop Ventures https://bit.ly/2EtXr7r 8 | 39
Nordic M&A Tech Refresh New funds ► Accelerace, launches its second pre-seed fund, backed by Færchfonden, Vækstfonden and Symbion, targeting newly established Danish startups https://bit.ly/34uT9Yf 9 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 33 (10 aug – 16 aug) Acquisitions, mergers and divestitures ► EG’s subsidiary Silkeborg Data A/S, Denmark-based vertical software provider, acquires Altiplan ApS, Denmark-based provider of HosInfo rostering system for hospital wards https://bit.ly/3kOw5cP ► Viking Venture-backed, House of Control Group, Norway-based provider of cloud-solutions for finance departments, acquires DinERP, Norway-based provider of ERP solutions https://bit.ly/3h5dGWP ► Quentinel, Finland-based specialist in software testing automation, acquired by Gofore, Finland- based digitalization specialist https://bit.ly/34654vi ► Norvestor-backed NetNordic, Norwegian-based leading Nordic system integrator, acquires Bolero, Sweden-based provider of cloud, cyber security, analytics, network and data centre services https://bit.ly/2PZExI6 ► Banqsoft, owned by KMD, Nordic provider FinTech solutions, acquires Concent AS, Norway-based provider of credit management and debt collection software https://bit.ly/2Y6OvvM ► LeadScoreApp, Denmark-based provider of lead scoring and email targeting automation, acquired by Fastbase, US-based web and database analytics company https://bit.ly/3iK31Bm Growth capital ► ROEQ, Denmark-based producer of robotics carts, lifters and rollers from MiR-robots, raises capital from VækstPartner Kapital and its 80 Danish investors https://bit.ly/311nxaL ► Varjo, Finland-based producer of VR/XR hardware and software, raises 54 USDm in Series C funding led by new investors Tesi, NordicNinja, Swisscanto Invest, and previous investors Lifeline Ventures, Atomico, EQT Ventures and Volvo Cars Tech Fund https://bit.ly/3119RMM ► Practio, Denmark-based digital healthcare platform, raises 8,2 DKKm in equity funding round led by Spintop Ventures, to accelerate its international expansion https://bit.ly/3iMqsKl ► Labster, Denmark-based EdTech provider of VR-enabled laboratories, raises 9 USDm in equity venture funding from GGV, and existing investors Owl Ventures, Balderton and Northzone https://tcrn.ch/3h71rZS New funds ► Nordic Secondary Fund (N2F), to invest 350 DKKm in 20 to 30 Nordic growth companies. Maximum ownership stake of 10%. Currently 75 investors have backed the fund. Fund number two expected to close at 750 DKKm https://bit.ly/3g4hk1T 10 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 32 (03 aug – 09 aug) Acquisitions, mergers and divestitures ► Visma, Norway-based European leader in cloud business solutions, acquires Yuki, Netherlands- based all-in-one accounting software platform https://bit.ly/3kv1fpe ► Pentia, Denmark-based IT consultancy, acquires Klausen + Partners, Denmark-based B2B marketing agency. Together the brands will create a full-service customer experience agency, combing both technology and creative competences https://bit.ly/3a8qx7S ► LogPoint, Denmark-based leading provider of security information and event management software, to acquire agileSI, Germany-based leading SAP security solution from Orange Cyberdefense. The deal includes a partnership agreement, conserving the technology as part of Orange’s cybersecurity portfolio https://bit.ly/3abw5yD ► Pinja, Finland-based vertical software provider, acquires PiiMega, Finland-based developer of software for the forestry industry, e-commerce solutions and ERP systems https://bit.ly/3abwj8X Growth capital ► Neutral DSP Technologies, Finland-based provider of sound processing software and hardware for musicians, raises 5 EURm from CapMan, previous investors, as well as music and technology influencers https://bit.ly/3imgm2y ► Blue Ocean Robotics, Denmark-based developer, producer and seller of robots for healthcare, hospitality, construction and agriculture, raises 122 DKKm from Niels Thorborg, Nordic Eye and other new and existing investors https://bit.ly/30IQqZ8 New funds ► CapMan, Finland-based Private Equity fund, raises 74 of 85 EURm for its second growth fund. The fund will target minority investments, 3 to 20 EURm, in Finnish growth companies with turnover of 5 to 100 EURm https://bit.ly/3ku3dWY ► Idekapital, Norway-based technology fund, raises 600 of 800 NOKm for its second fund. Among the investors are KLP, Oslo Pensjonsforsikring, Gjensidige Foundation, Investinor, Lundhs Labradoreksport and Magnus Carlsen. The fund targets Norwegian-based B2B SaaS companies with global potential https://bit.ly/33Ooi8y 11 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 31 (27 july – 02 aug) Acquisitions, mergers and divestitures ► Modcam, Sweden-based provider of data-driven computer vision insights, acquired by Cisco, America-based global provider of networking and telecommunication hardware, software and services. To be integrated in Cisco Meraki smart cameras business https://bit.ly/33ldajA ► Mindville, Sweden-based JIRA IT service and asset management solutions provider, to be acquired by Atlassian, Australia-based provider of team collaboration and productivity software https://bit.ly/30jJ121 ► Double Star, Finland-based game studio, acquired by Huuuge Games, Poland-based global free-to- play game developer and publisher https://bit.ly/3focdcC ► EcoOnline, Norway-based provider of workplace health and safety software, acquires UK-based competitor Airsweb https://bit.ly/33kgLy4 Growth capital ► LocalizeDirect, Sweden-based localization software company, raises 10,2 SEKm from Entreprenör Invest (IKEA Family Foundation) VC’s and angels https://cisn.co/30mVBOg 12 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 30 (20 july – 26 july) Acquisitions, mergers and divestitures ► Adevinta ASA, Norway-based leading online marketplace operator, to acquire eBay Classifieds Group from eBay Inc. Schibsted ASA to support the acquisition by acquiring the Danish assets, including the DBA.dk and Bilbasen.dk brands https://bit.ly/2D7oXqE ► Retail Solution, Norway-based provider of IT solutions for the restaurant and catering industry, partly acquired by the wealthy Norway-based Øgreid family https://bit.ly/2OXeP6n Growth capital ► TinyMobileRobots, Denmark-based producer of outdoor surveying and marking robots, raises 13 DKKm from existing investor Anders Fauerskov and employees Mads Genefke and Sune Larsen https://bit.ly/3jFPdZZ 13 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 29 (13 july – 19 july) Acquisitions, mergers and divestitures ► Oikotie Oy, Finland-based operator of classified websites for jobs, businesses and housing, acquired by Schibsted ASA from Sanoma Oyj https://bit.ly/2Cxd4do ► Instantor, Sweden-based provider of credit risk management solutions, set to be acquired by Tink, Sweden-based leading European open banking platform https://bit.ly/3jovFJe Growth capital ► Voi, Sweden-based provider of micro-mobility scooters, raises 30 USDm from existing investors after reaching profitability, plans to enter UK market after government test runs https://bit.ly/39eppiK ► Lucinity, Iceland-based provider of intelligent anti-money-laundering (AML) solutions, raises 6,1 USDm by Karma Ventures and byFounders, with participation from previous investors Crowberry Capital and Preceptor Capital https://bit.ly/2COmxNl ► Percepio, Sweden-based creator of runtime visualization tools for embedded IoT software, raises 22 SEKm in funding round led by Fairpoint Capital https://bit.ly/2Ct2h44 ► Brinja, Sweden-based provider of IoT cloud systems for construction safety, raises 10 SEKm from Almi Invest, existing and angel investors https://bit.ly/3fKB2QX ► StockRepublic, Sweden-based open banking platform for investments, raises 5,6 SEKm from Almi Invest and angels https://bit.ly/3fFTxG6 14 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 28 (06 july – 12 july) Acquisitions, mergers and divestitures ► Storytel, Sweden-based audiobook subscription service, acquires Kitab Sawti, Swedish-based subscription service for Arabic audiobooks and podcasts https://bit.ly/3iWtbBE ► Paradox Interactive, Sweden-based game publisher, acquires Playrion Game Studio, France-based mobile-focused game developer https://bit.ly/2AWA0Cg ► One.com, Denmark-based webhost, acquires Larsen Data (GratisDNS.dk), Denmark-based domain registration service https://bit.ly/2WbU1Mq ► Opera Software, Norwegian-based browser and application developer, to acquire Fjord Bank, Lithuania-based digital neo-bank startup, in order to offer its first FinTech offering to the European market https://bit.ly/3gRn3sI Growth capital ► Yubico, Sweden/USA-based producer of security wearables and devices, raises 300 SEKm from AMF Pension https://bit.ly/32f2QJc ► Quickchannel, Sweden-based provider of high-performance online streaming and recording services, raises 6,75 SEKm from blq invest https://bit.ly/2WfuBgZ ► Finch 3D, Sweden-based SaaS design tool for architects, raises 3 SEKm from Almi Invest https://bit.ly/32dKI2C ► Traplight, Finland-based mobile game development studio, raises 8 EURm led by EQT Ventures with participation from Play Ventures and existing investors Initial Capital and Heartcore Capital. The funding will be used on its launch of Battle Legion https://bit.ly/3gXDHqJ ► Basemark, Finland-based developer of graphics and autonomous driving software, raises 7 EURm from ETF Partners https://bit.ly/3iXdPx2 ► MariaDB, Finland-based database software developer, raises 25 USDm from SmartFin Capital, in order to expand its cloud operations https://bit.ly/3iUMgEp 15 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 27 (29 june – 05 july) Acquisitions, mergers and divestitures ► AddPro AB, Sweden-based provider of mission-critical IT services, acquired by Danish private equity fund Axcel from Adelis Equity Partners https://bit.ly/2Z0cRrC ► Coach Solutions, Denmark-based supplier of software for vessel performance and monitoring, acquired by Kongsberg Digital, Norway-based provider of software and digital solutions to maritime, oil, gas, renewables and utilities https://bit.ly/3ea4nmp ► A-Data, Denmark-based provider of healthcare software for doctors, acquired by EG, Nordic leader of vertical market software, and to be integrated in its healthcare division https://bit.ly/2ZBqWuO ► FotoWare, Norway-based provider of Digital Enterprise Asset Management software, acquired by Norway-based private equity fund, Viking Venture, a leading investor in Nordic software solutions https://bit.ly/3ffXWzz ► Create-Solutions, Norway-based PropTech SaaS company acquired by Visma in order to strengthen its position in the digitalization of the real estate market https://bit.ly/2BETgo0 ► Pulsen AB, Sweden-based vertical market software provider, sell its end-to-end retail ERP activities to Total Specific Solutions, Netherlands-based developer of vertical market software solutions https://bit.ly/2VN1Qbq ► Netpublicator, Sweden-based provider of document- and case management SaaS, acquired by Addnode Group, a leading supplier of software and services in Europe https://cisn.co/3e9tgyA Growth capital ► Undo, Denmark-based InsurTech, raises 4,7 EURm from Tryg to improve car insurance https://bit.ly/3ffXWzz ► Cobiro, Denmark-based website building platform, raises 6,7 EURm from Danske Bank customers https://bit.ly/38sMhe3 ► Bambuser, Sweden-based provider of live video shopping technology, raises 290 SEKm through directed share issue with participation from Harmony Partners and others https://prn.to/3gwoyfO ► Willa, Sweden/America-based FinTech startup raises 3 USDm from EQT Ventures, Moonfire Ventures, and Nordic Makers and private investors to help freelancers with payments and administrative tasks https://tcrn.ch/31PhXcm 16 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 26 (22 june – 28 june) Acquisitions, mergers and divestitures ► Tricom, Denmark-based procurement platform, acquired by Viking Venture-backed Mercell, Norway-based Nordic/European leader in e-tendering solutions https://bit.ly/3eJmTmt ► Investcorp-owned Ageras, professional services marketplace, acquires Tellow, Netherlands-based accounting tool for freelancers https://bit.ly/3eKkMyI ► APX10, Denmark-based SaaS data analytics platform for water and wastewater, acquired by Private Equity firm Cimbria Capital https://bit.ly/2Ac1PpP Growth capital ► Insurello, Sweden-based Insurtech startup securing fair compensation, raises 7,1 EURm in investment round led by Inventure and Schibsted with participation from Luminar Ventures https://bit.ly/38dksX4 Playbook ► Visma to continue its acquisition hot streak: Plans to grow 10% year on year, on both organic and inorganic growth measures https://bit.ly/3dHMlY4 17 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 25 (15 june – 21 june) Acquisitions, mergers and divestitures ► Mapillary, Sweden-based digital mapping services for self-driving vehicles, acquired by Facebook. The company was backed by Atomico, Sequoia, PlayFair, LDV Capital, and Catalyst https://bit.ly/2NfLkf4 ► Sinch, Sweden-based communications platform for mobile engagement, acquires ACL Global, a India-based cloud communications provider https://bit.ly/3dpu01Y ► FilmOla.com, Finland-based online marketplace for film and tv shows, acquired by Fearless Films, Inc., a Canadian film production company https://prn.to/2Bo9G3M ► Joliv, Sweden-based healthcare software provider, acquired by Netherlands-based Main Capital Partners which will merge the company with Alfa to form a leading SaaS player in the Swedish care market https://bit.ly/2ANLxUx ► Appva AB, Sweden-based provider of mobile and digital signature app for medication tracking, acquired by Vitec Software Group, to strengthen its Nordic position in Vertical Market Software https://cisn.co/2zOtAV4 Growth capital ► Acast, Sweden-based podcast company, raises 50 EURm in equity from Alfvén & Didrikson, Moor Capital, Bonnier Ventures, Första AP Fonden, Swedbank Robur and credit from European Investment Bank https://bit.ly/2Ctd9i5 ► Swappie, Finland-based operator of online marketplace for refurbished smartphone, raises 35,8 EURm in Series B from TESI, and existing investors Lifeline Ventures, Reaktor Ventures, and Inventure https://bit.ly/2NiRoDW ► Unity Studios, Denmark-based VR development studio, raises 15 to 20 DKKm from Vækstfonden and North-East Venture https://bit.ly/3hIdoWJ ► Stillfront Group, Sweden-based video game developer with 14 studios and 50 games, raises 113 EURm in a directed shared issue to Swedish and international investors https://bit.ly/2Yj2KOs ► Billogram, Sweden-based FinTech company providing intelligent invoicing services, raises 4,8 USDm from CNI, Inbox Capital and Rutger Arnhult https://bit.ly/2NeLX8X 18 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 24 (08 june – 14 june) Growth capital ► Foreseeti, Sweden-based provider Automated Threat Modeling and Attack Simulation solutions, raises 30 SEKm in investment round led by Fairpoint Capital and private investors https://bit.ly/3e1pPuh ► PantaPå, Sweden-based mobile solution developer for recycle packaging, raises 9,5 SEKm in investment round led by Orkla Ventures and Verdane Capital https://bit.ly/3hqF1mU ► Trustly, Sweden-based provider of online bank payment solutions, receive undisclosed investment from BlackRock https://tcrn.ch/3d3Ugih ► Capturi, Denmark-based sales process optimization software, raises 11,6 DKKm in investment round led by Vækstfonden, key employees and private investors https://bit.ly/2C1CWxr ► Kahoot!, Norway-based edtech company, raises 28 USDm in new equity via private placement of 7,5 million shares https://bit.ly/2XYjM46 ► Attractive.ai, Finland-based automated UX analytics tool, raises 1 USDm in seed round led by Helsinki’s Superhero Capital and private investors Tue Lumbye, Jaako Salminen, Tatsuro Shimada and Keisuke Honda https://bit.ly/2UH3FGj ► IQM Finland, Finland-based quantum computer provider, raises 20 EURm in grants and equity investment from EIC Accelerator and Business Finland https://bit.ly/30HadIP 19 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 23 (01 june – 07 june) Acquisitions, mergers and divestitures ► Trapets, Sweden-based provider of services and systems for securities trading, anti-money laundering surveillance and compliance, sells majority stake to Monterro, a Swedish private equity firm https://bit.ly/2A3JfjH ► Hano AS, leading Norwegian-based provider of IT solutions to the health and wellness industry, acquired by FP-backed EG, Denmark-based Nordic leading software provider https://bit.ly/37e2jri ► Darkfire Games, Denmark-based mobile games studio, acquired by Rovio Entertainment, the Finnish game developer of Angry Birds https://bit.ly/30s8SoO ► Suomen Konehuone Oy, Finland-based datacenter modernization advisor, acquired by Norvestor- backed NetNordic, Norway-based system integrator in all of Nordics https://bit.ly/2AdZNp5 ► Oulun DataCenter, Finland-based leading provider of cloud services in Northern Finland, acquired by VIA Equity-backed GleSYS AB, Sweden-based IaaS and ISP provider in Europe https://bit.ly/3dHSh4s ► Lendysoft, Sweden-based developer of lending technology, sells peer-to-peer and balance sheet lending software to Bricknode, Sweden-based cloud-based SaaS platform looking to expand its lending-as-a-service capabilities https://bit.ly/2BEZ2Wo Growth capital ► Debricked, Swedish Cybersecurity startup, raises 18 SEKm from Luminar Ventures, Brightly Ventures and previous investors, to launch their SaaS internationally https://bit.ly/37g8Ul9 ► Tink, Sweden-based open banking platform, receives second investment from PayPal Ventures (amount undisclosed) https://bit.ly/2zeWxJz ► Scrive, Sweden-based provider of electronic signature and identity solutions to all of Europe, receives undisclosed investment from Vitruvian Partners to accelerate its expansion across Nordics and Europe https://bit.ly/3h5tLMt ► Iiwari, Finland-based startup developing indoor positioning technology, receives 1.5 EURm seed investment from Voima Ventures, a Nordic deep tech venture capitalist https://bit.ly/2MHFUJA ► Good Monday, Denmark-based developer of workspace management platform, raises 4 USDm in investment round led by firstminute Capital and existing investors Creandum, Seed Capital, and PreSeed Ventures, in order to expand to London and develop its platform https://bit.ly/2XHfIVO 20 | 39
Nordic M&A Tech Refresh ► Shopbox, Denmark-based mobile-based PoS system, raises DKK two-digit investment from newly started fintech investment company Acorn https://bit.ly/2AN2P3y 21 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 22 (25 may – 31 may) Acquisitions, mergers and divestitures ► Hiotlabs, Sweden-based IoT sensor platform for insurers, acquired by Polygon, US-based global provider of property damage services https://bit.ly/2TXayTy Growth capital ► Doktor.se, Sweden-based e-health startup offering digital consultations, raises 45 EURm in Series C led by Carnegie and Handelsbanken https://bit.ly/36Q7AFv ► Safe Online, Denmark-based data security SaaS, raises 11,5 DKKm in capital investment round led by angel investors including Henrik Kähler and Gregers Kronborg https://bit.ly/2BoT2RB ► Wired Relations, Denmark-based privacy and security SaaS platform, raises 5 DKKm from angels investors including Erik Stannow, Kenneth Nielsen and Claus Klein-Ipsen https://bit.ly/2XOCU3f ► Meniga, Iceland/London-based digital banking fintech startup, raises 8,5 EURm from Groupe BPCE, Groupo Crédito Agrícola, and UniCredit, Velocity Capital, Industrifonden, and Frumtak Ventures https://bit.ly/3gDjUNX ► Radiobotics, Denmark-based healthtech startup for AI radiology, raises 10 DKKm from EIC Accelerator https://bit.ly/301TJKP ► Podimo, Denmark-based podcast curation platform, raises 15 EURm in round led by 83North, Heartcore and e.ventures who also participated in the startup’s seed round in July 2019 https://bit.ly/2U1BDEZ 22 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 21 (18 may – 24 may) Acquisitions, mergers and divestitures ► TrueLink A/S, Denmark-based collaboration platform for e-procurement, acquired by Viking Venture-backed Mercell International, Norway-based leading platform for public e-tendering, as its fifth target within the last 12 months https://bit.ly/2WYeZzj ► Napp, Denmark-based B2B sales enablement platform, acquired by Templafy, Denmark/NYC- based global leader in enterprise documentation creation and automation https://bit.ly/2ZxlGtL ► Staria Oyj, Finland-based international provider of information systems and accounting services, acquired by Finnish private equity investor Vaaka Partners, to accelerate its international growth plan https://bit.ly/3eiHOfM ► AddSecure, Sweden-based provider of premium solutions for secure data and critical communications, acquires London-based Connexas Group, provider of fleet management and telematics solutions, from Horizon Capital LLP https://bit.ly/2zhvgq8 ► Kaiku Health, Finland-based provider intelligent patient-monitoring software, acquired by Elekta, Sweden-based global provider of precision radiation medicine https://bit.ly/2LXfnHP Growth capital ► PocketLaw, Sweden-based startup providing digital legal services, secures angel investment round of 10 SEKm https://bit.ly/3gfdgNL ► Happeo, Finland-based enterprise social intranet, raises 12 USDm in Series A led by INKEF Capital, and previous investors DN Capital, Maki.vc, and Vendep Capital, in order to expand internationally https://bit.ly/2zqVwyc ► CathVision, Denmark-based developer of AI therapeutics platform for cardiac electrophysiology procedures, raises 13 EURm https://prn.to/3eeVsQL ► Boost AI, Norwegian-based chatbot company, secures runaway in bridge round led by Alliance Ventures, who previously invested 40 USDm, and other undisclosed investors https://bit.ly/2XsAk2K ► LuggageHero, Denmark-based leading Traveltech startup operating a luggage-storage network, raises 0,4 EURm from crowd-sourcing platform Seedrs https://bit.ly/3bZbTiD 23 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 20 (11 may – 17 may) Acquisitions, mergers and divestitures ► Cryptera, Denmark-based international payment and security provider, acquired by Danish private investor Nils Smith from previous American owner, Diebold Nixdorf https://bit.ly/3fZk81g ► Lefdal Mine Datacenter AS, Norwegian green data center operator, sells 66,67% stake to Columbia Management Investment Advisers LLC through Columbia Threadneedle European Sustainable Infrastructure fund https://bit.ly/2Td0fdw ► Valitor, Iceland-based payment solutions provider, sells Danish operations to Christian Rasmussen, co-founder of AltaPay which was previously sold to Valitor in 2014 https://bit.ly/3byhmNi ► Hg-backed Visma, Norway-based provider of business software and services, acquires Nmbrs, Netherlands-based provider of HR and payroll software, as part of their previously announced Netherlands-focused M&A strategy https://bit.ly/3fZIvfl ► Plint, Sweden-based language and media technology company, sells 55% stake to Swedish private equity fund Priveq https://bit.ly/2WZFoLQ ► Hg-backed Visma, Norway-based provider of business software and services, acquires Zetech, Argentina-based leading provider of digital signature and document management solutions in Latin America, in order to strengthen its offering of HR cloud solutions https://bit.ly/3bzHZ4h Growth capital ► Wolt, Finland-based food delivery scale-up, raises 100 EURm from ICONIQ Capital, Highland Europe, 83North, EQT Ventures, and Goldman Sachs’ Growth Equity unit, in order to safeguard against COVID-19 uncertainty https://bit.ly/3fVR5M5 ► BLAST, Denmark and London-based esports entertainment startup, raises 12,5 EURm from Johan Gedda, Vækstfonden, Creandum, Heartcore, and Maki.vc, in order to scale and evolve the company https://bit.ly/2Ten6Fv ► Omocom, Swedish insurance tech startup, raises 3,7 EURm from Mustard Seed MAZE, Alma Mundi Insurtech Fund, Luminar and some angels, in order to provide insurance products for circular economy-based products https://bit.ly/3bDzo0F ► Anyfin, Sweden-based digital lender for loan refinancing, raises 30 USDm in Series B led by EQT Ventures, with support from prior investors Accel, Northzone and Global Founders Capital, in order to expand from Sweden and Finland into new European markets https://bit.ly/2z4qPia 24 | 39
Nordic M&A Tech Refresh ► Lysa, Sweden-based automated investment service for asset management, raises 6 USDm from existing investors Ernström & Co and Inbox Capital https://bit.ly/2Zfejab ► Leetify, Sweden-based AI coaching platform for gamers, raises 0,9 EURm from Inventure, J12 Ventures, Futuristic.vc and others https://bit.ly/2LCRzJj ► Apotherm, Swedish online drugstore, raises 20 SEKm from existing investors Novax and Axfood’s logistics company Dagab https://bit.ly/2LGhpff New funds ► Bocap, Finland-based investment company, launches its 3rd PE growth fund at 50 EURm targeting Finnish entrepreneur-lead high-growth SME’s with sales between 4 and 50 EURm https://bit.ly/2TaFTli 25 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 19 (04 may – 10 may) Acquisitions, mergers and divestitures ► Sinch, Swedish cloud computing services provider, acquires SAP Digital Interconnect, a unit of SAP SE for 225 EURm, to increase its presence in the United States https://reut.rs/2WJOFaG ► RoosGruppen AB, owned by Swedish tech billionaire Häkan Roos, acquires 33% majority stake in Synergy Sky AS, Norwegian-made business meeting software, to accelerate its expansion to international markets https://bit.ly/2WJOA6S ► Verdane Capital-backed Wrap Software, Sweden-based world-leading software technology for spectrum management and radio network planning, acquired by Altair, a global technology company https://bit.ly/2A9Nolz ► Klarna, Swedish payment services company, acquires Nuji, a UK-based e-retail platform https://bit.ly/2YQh7dS ► ExproSoft, Norway-based global leader in software solutions for the oil and gas industry, acquired by Peloton, Canada-based global leader in oil well integrity management, data modelling and simulation https://prn.to/2xO7T6A Growth capital ► Penneo, Danish provider of digital signature software, upsizes IPO to 50 DKK, to list on Nasdaq First North on 2 June 2020 https://cisn.co/3dCY7nj ► Dazzle Rocks, Finnish developer of a mobile-first scalable MMO game, raises 6,8 USDm in capital investment round led by Galaxy EOS VC Fund, Spintop Ventures, ByFounders, MTG, Sisu Game Ventures and private investors Ken Lamb and David Helgason https://bit.ly/3bdmfLy ► Maitres, Swedish developer of mobile payment app for dine-in restaurants, raises 12 SEKm from existing investor Spinnaker Ventures and angel investors https://bit.ly/2yyZi8r ► Relion, Danish startup developing a online scheduling tool, raises capital from serial entrepreneur Werner Storm Valeur and Vækstfonden https://bit.ly/2Li2qbg 26 | 39
Nordic M&A Tech Refresh New funds ► Vækstfonden, the Danish state-backed financing fund, to help Danish entrepreneurs and venture companies amid Covid-19 with 3.400 DKKm through 4 new financing products https://bit.ly/2WkxxJN ► OMERS launches 750 USDm venture capital fund to back early-stage technology companies – 40% of funds set to be invested in European tech companies https://bit.ly/35LdZkR ► Runa Capital launches its third venture capital fund at 157 USDm, targeted deep-tech early-stage companies seeking Series A funding. Funds could land in Northern Europe through its European offices https://tcrn.ch/2YPCiMQ ► Verso Capital launches new 100 EURm sector agnostic fund for carve-outs, joint venture rearrangements and acquisition acceleration. The fund focuses on investments in Nordics, Northern-Europe, and DACH markets https://bit.ly/2A7zLDs Playbook ► NNIT, Danish provider of IT services for life sciences and other regulated industries, ready for acquisitions amid Covid-19 with dry powder of more than 1.000 DKKm https://bit.ly/2znpGC4 27 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 18 (27 apr – 03 may) Acquisitions, mergers and divestitures ► Goodbye Kansas, Swedish computer game developer, acquired from THQ Nordic by Bublar Group, Swedish virtual reality gaming company https://cisn.co/2YsKGlm Growth capital ► Templafy, Danish global leader in enterprise document creation and automation, raises 25 USDm in Series C led by Insight Partners https://prn.to/2WqqwWs ► Platypus, Danish HR tech startup to boost employee retention through cultural alignment, raises 2,5 USDm in a capital investment round led by Mustard Seed MAZE, Vækstfonden, Inventure, Preseed Ventures, SpeedInvest, Nordic Web Ventures, and various angels https://bit.ly/3femTLP ► AppGyver, Finnish startup developing a visual drag-and-drop enterprise programming tool, raises 2 EURm in a capital investment round led by Karma Ventures, OpenOcean, and various angels https://bit.ly/2YsToQH ► Strise, Norwegian AI startup developing a data platform for enterprise financial institutions, raises 1,4 EURm in seed funding by Maki.vc, Tim Bolte, and existing angels https://bit.ly/3bZHJg7 ► Logmore, Finnish datalogging pioneer, raises 4,5 EURm in Series A led by NordicNinja, Icebreaker.VC, Trind Ventures, Trekton Ventures, and Jaakkoo-Taara https://bit.ly/3fddRyN New funds ► Icebreaker.VC, Finnish pre-seed venture fund, announces its second fund at 50 EURm targeted at tech companies with deep domain expertise https://bit.ly/2VXOMQF Playbook ► Enea, Swedish provider of cloud-native software for telecoms, continues to seek acquisitions to strengthen its market position and long-term earning capacity https://bit.ly/3bXTHXu 28 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 17 (20 apr – 26 apr) Acquisitions, mergers and divestitures ► ProActive A/S, Danish digital workplace and managed cloud service provider, acquired by FSN Capital Partners-backed Fellowmind, an international Netherlands-based Microsoft solutions provider https://bit.ly/358BDYb ► Conscriptor AB and Max Manus Group acquired and merged by Verdane to form a 23 EURm Nordic HealthTech group specialized in technologically-driven transcription services and speech recognition https://bit.ly/2x9GkV7 ► Amesto Consulting, Norwegian provider of IT consultants, acquired by Prodata Consult, Nordic leader in the space https://bit.ly/2Y62gvj ► NextIOT, Danish provider of end-to-end IoT Solutions for machine builders, acquired by New York- based ei3 to expand its presence in Europe https://bit.ly/3cPmRYO ► Korta, Icelandic payment service software and hardware supplier, acquired from Kvika by Rapyd, a UK-based mobile payment company https://bit.ly/2x9GmfH ► LJ System, Swedish provider of church and preschool-related administration software, acquired by Vitec https://cisn.co/2Y4JpAH ► Stilfront Group, Swedish games holding company, acquires Candywriter, a US-based mobile game developer and publisher https://bit.ly/2yNCYaU Growth capital ► Lendify, Swedish provider of consumer loans, raise 148 SEKm through a new share issue, at a pre- money valuation of 1500 SEKm https://cisn.co/2VF5Qe4 ► Capdesk, Danish London-based equity management platform, raises 25 DKKm in Series A led by Fuel Ventures and various family offices https://bit.ly/2VEWIpY ► DbVis, Swedish provider of database management software, raises 5,3 EURm in capital investment round led by Industrifonden and Fairpoint Capital https://bit.ly/3bFBkX9 ► Reworks, Finnish mobile game studio, raises 4 EURm in capital investment round led by EQT Ventures, with support from Play Ventures and private investor Anton Gauffin https://bit.ly/2VEWJdw 29 | 39
Nordic M&A Tech Refresh ► Nordic API Gateway, Danish open banking platform, raises 4,6 EURm in internal funding round led by its partners Danske Band and DNB, to kickstart European expansion https://bit.ly/2yND02w ► Bokio, Swedish AI-powered accounting tool for SME’s and freelancers, has raised 7,4 EURm in internal funding round from Creandum, Svea Ekonomi, business angels, and founders, and merges with Swedish competitor Red Flag https://bit.ly/3aEbrpl ► Shoreline, Norwegian wind SaaS simulation and workflow management platform, raises 4 USDm in Series A led by Ingenious, with participation from existing investors Blue Bear Capital, Alliance Venture and Investinor https://bit.ly/2KALJYm ► Bookis, Norwegian marketplace for used books, raises 12 NOKm from Schibsted Growth https://bit.ly/2Y7HNpS ► Tractr, Finnish startup developing a software solution for real estate, raises 1,9 EURm in capital investment round led by Lifeline Ventures, with participation from existing investors Halton and Reaktor Ventures https://bit.ly/357VmqW 30 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 16 (13 apr – 19 apr) Acquisitions, mergers and divestitures ► SuperOffice, Norwegian SaaS CRM provider, acquired by Axcel https://bit.ly/34Tz38f ► Nitro Games, Finnish game developer, sells share majority to Nordisk Film for 45 SEKm https://bit.ly/2wR7Fv9 ► Siili Solutions, Finnish software company, to sell its minority stake in RoboCorp, Finnish robotics software house, to Benchmark Capital, Slow Venture, and Firstminute Capital https://bit.ly/2XTTNLs ► Cyber Security 1 AB, Swedish cybersecurity company, hands back Greek and Turkish businesses to Itway S.p.A after unsuccessful acquisition in late 2018. Itway to re-sell activities to Cognosec https://reut.rs/3ap6Qal ► Marlin-backed Puzzel, Norwegian provider of cloud-based contract centre solutions, acquires U-WFM, UK-based workforce management and optimization software provider https://bit.ly/2KiPpxC ► Cloud Explorers, Norwegian big data management platform for analytics, acquired by SpectrumOne, Swedish sales- and communication-improvement platform for marketers https://cisn.co/2KiH79e Growth capital ► Dirac, Swedish audio tech firm, raises 60 SEKm from Inbox Capital AB, Swedia Capital, and DIG Investment https://bit.ly/2ysrcSO ► Superplus Games, Finnish startup developing mobile games, completes 4,7 USDm capital investment round led by Makers Fund, Sisu Games Ventures, and Business Finland https://bit.ly/3cy9I6z ► Virta, Finnish electric vehicle charging platform, announces an undisclosed investment agreement with JXTG, a Japan-based oil company https://bit.ly/2VF5cft ► Tyme Wear, Icelandic startup developing tech-driven wearables for sports, announces 200 ISKm capital investment led by New Business Venture Fund / Nýsköpunarsjóður https://bit.ly/3blGQ17 31 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 15 (06 apr – 12 apr) Acquisitions, mergers and divestitures ► Specter AB, Swedish provider of cloud-based ERP and e-commerce solutions for SMBs, acquired by Visma https://bit.ly/3aYlqXA ► Futunio Oy, Finnish provider of software services to trade union and unemployment funds, acquired by Total Specific Solutions (TTS) a subsidiary of Constellation Software Inc https://bit.ly/34tpnBf ► Suomen Hostingpalvelu, Finnish provider of hosting services, acquired by Loopia Group, Swedish internet services supplier https://bit.ly/2ybhuEd ► Stockholm Internet eXchange, Swedish provider of interconnections between internet service providers, acquired by GleSYS backed by VIA Equity, a Swedish hosting company https://bit.ly/3ehXyjC ► Zoopit, Norwegian provider of logistical solutions, sells founder shares to logistical subsidiary of media giant Schibsted, who now owns 75% of the company https://bit.ly/2JVLsyH Growth capital ► QuietOn, Finnish startup for noise-cancelling earbuds, raises 4,5 EURm in Series A led by Business Finland and other business angel investors https://bit.ly/3eenhtf ► OGOship, Finnish e-commerce logistics services company, raises 1,5 EURm in investment round led by MAKI VC https://bit.ly/2yTUpXe ► Mindler, Swedish mental health platform, raises 85 SEKm in Series A led by Ventech and Schibsted Growth https://bit.ly/2K0BmN3 ► Instabox, Swedish e-commerce logistics tech company, raises 36 EURm by CREADES and CORDET, at a 100 EURm valuation https://bit.ly/2yUFvQv ► Tipio, Norwegian consumer-driven marketplace for group purchases, raises 2,5 NOKm via equity crowdfunding campaign on Folkeinvest https://bit.ly/34s042u ► Kreditz, Swedish credit score platform, raises 19 SEKm in capital investment round led by Segulah Venture, Salénia, Pamir Invest and angel investors https://bit.ly/2VlgTbc 32 | 39
Nordic M&A Tech Refresh ► Nordetect, Danish producer of hardware and data management systems for precision agriculture, has completed its capital investment round led by SOSV, Rockstart, PreSeed Ventures, and Luminate Venture Corp https://bit.ly/2yOvEeU ► ClimateView, Swedish developer of software platform for environmental-related data, raises 2,3 EURm in capital investment round led by Norrsken Foundation, Nordic Makers, Max Ventures, and CGV Capital https://bit.ly/2XtBGMd ► Cellink, Swedish 3D bioprinting company, to start trading on NASDAQ’s main list as of April 20, 2020 https://bit.ly/3c9GudW New funds ► Index Ventures announces 2 USDbn in new funds for early-stage and growth investments, some of which could go to Nordics https://bit.ly/2xfrMDw ► Blossom Capital launches angel investment and mentorship network for early-stage startups across Europe https://bit.ly/2yWTx4h 33 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 14 (30 mar – 05 apr) Acquisitions, mergers and divestitures ► Alfa Kommun & Landsting AB and Safe Care Svenska AB, Swedish eHealth software group, sells majority stake to Main Capital Partners https://bit.ly/2x3Lt0P ► Tink, Swedish open banking platform, acquires Madrid-based account aggregation provider, Eurobits Technologies https://bit.ly/3dVP29Q ► PDSVISION, Swedish provider of digital transformation software solutions and services, to sell majority stake to CapMan. PDSVISION to engage in organic and inorganic growth going forward https://bit.ly/2xPFE7n ► Cinven-backed, One.com, Danish web hosting service provider, to acquire Amsterdam-based Hostnet BV https://bit.ly/2xNHANy ► Bruce, Swedish subscription service for fitness studios, acquires Norwegian competitor Combine https://bit.ly/3aL90Cq ► Pixerymedia, Swedish creator of digital real estate software solutions, sells majority stake to Wellstreet https://bit.ly/349CDLd ► Rentmate, Icelandic rental platform, acquired by Dutch competitor HousingAnywhere https://bit.ly/3aIqC1O ► Draftit, Swedish Legaltech company, sells majority stake to Visma, Norwegian software conglomerate https://bit.ly/2x7zZt4 ► Nordic Capital-backed, Signicat, Norwegian provider of a digital identity platform, acquires Netherland-based competitor Connectis https://bit.ly/3c4fEUH 34 | 39
Nordic M&A Tech Refresh Growth capital ► Lunar, Danish digital provider of financial services, receives 20 EURm funding in Series B led by SEED Capital, Greyhound, Socii, and Chr. Augustinus Fabrikker https://bit.ly/2X8S2da ► Indó, Icelandic local ‘bank challenger’ completes 1 EURm seed funding over three rounds since 2018 https://bit.ly/2V2hKxk ► PodMe, Swedish podcast platform, receives 21 SEKm investment from Schibsted and Gorilla Capital https://bit.ly/39KzXEW ► Hack Your Closet, Swedish circular subscription service for clothes, raises 4,2 SEKm in funding round led by Luminar Ventures, DHS and angel investors https://bit.ly/2K0yIa5 Playbook ► Telavox, Swedish communication platform developer, looking for further acquisition in new and existing markets https://bit.ly/2RcNdM9 ► C2IT, Danish provider of ERP solutions and IT services, to look for additional acquisitions following COVID-19 https://bit.ly/2UJvRsn ► Report from Startup Genome estimates a 28 USDm reduction in global startup investments for 2020 due to COVID-19 https://bit.ly/2Reimi9 ► DXC to close hardware business of its EG A/S Service Business acquisition in 2019 https://bit.ly/39HuHSA 35 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 13 (23 mar – 29 mar) Acquisitions, mergers and divestitures ► Aksess Innkjøp, Norwegian provider of e-tendering platform, acquired by PE Viking Venture- backed Mercell https://bit.ly/3athEW3 ► Grazper, Danish AI-driven 3D visualization, acquired by Yokogawa, a Japanese industrial automation conglomerate https://bit.ly/2wD2ChQ ► Queue-it, Danish provider of virtual waiting room services, sells 75% stake to Gro Capital https://bit.ly/3bzXBoV Growth capital ► Humio, Danish London-based time-series logging and aggregation platform, receives 138 DKKm investment from Accel and Dell Technologies Capital https://bit.ly/2Jpa3vO ► Cognibotics, Swedish developer of precision improvement robotics software, receives 40 SEKm in Series A by Tibia and Fairpoint Capital https://bit.ly/2UJM1Rl ► Nextory, Swedish audiobook and e-book subscription service, receives 60 SEKm from existing investors Industrifonden, LK Finans AB, ACACIA, and Frescano Group https://bit.ly/3dExkYw ► Ingrid, Swedish SaaS solution for e-commerce shipping providers, receives 12,3 SEKm investment from Blq Invest https://bit.ly/3dx0YyR ► Ingenium Golf, Danish golf club digitalization platform, receives 3,1 DKKm investment https://bit.ly/2yiAGAb ► CollectiveCrunch, Finnish-German provider of AI-driven forestry platform, receives 500 EURm investment from European Space Agency (ESA) https://bit.ly/2QRXmxJ ► NewBanking Identity, Danish develop of identify platform, receives 1,7 EURm funding from Vækstfonden and Scale Capital https://bit.ly/2RaYYTc 36 | 39
Nordic M&A Tech Refresh New funds ► Skagerak Maturo, Norwegian early-stage VC firm, to invest 500 NOKm in tech companies following current COVID-19 crisis through its fifth fund https://bit.ly/3arqLXl ► Skyfall Ventures, Norwegian early-stage VC firm, to invest 50 NOKm for its first venture fund https://bit.ly/3asSbfk ► Almi, Swedish state-owned business development and investment firm, receives 3.000 SEKm in additional funds to support startups and SME’s https://bit.ly/3bAOG6M Playbook ► VC firms, Creandum, EQT Ventrues and Northzone to continue investments amidst COVID-19 https://bit.ly/3at9wVk ► HG-backed IT Relation, Danish IT-infrastructure outsourcing service provider, to continue its organic and inorganic growth plans after 12 successful acquisitions https://bit.ly/3bwzxTS ► Gro Capital looking for more tech acquisitions following COVID-19 https://bit.ly/2wJ2Fsc 37 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 12 (16 mar – 22 mar) Acquisitions, mergers and divestitures ► Holte, Norwegian construction software company, acquired by Danish software conglomerate EG A/S https://bit.ly/2Qzyrik ► Hubso AB, Swedish influencer branding platform, acquired by Orgo Tech AB for 6,9 EURm https://reut.rs/2wuCBkr ► Teston AS, Norwegian provider of user testing software, acquired by UserTesting Inc. https://bit.ly/397ZEif ► ALMA Consulting Oy, Finnish developer of information management software, acquired by Vitec Software Group AB https://cisn.co/3aeulUC Growth capital ► Oura, Finnish developer of health and sleep tracking ring, raises 28 USDm in Series B from Gradient Ventures, Square and Forerunner Ventures https://tcrn.ch/39erYQa ► Bilot, SAP and Microsoft enterprise applications and software solutions developer, starts trading on Nasdaq First North Growth Market Finland https://bit.ly/2vKv94y ► Mainframe Industries, a pan-Nordic gaming studio, raises 7,6 EURm in Series A for cloud-native MMO https://bit.ly/33EVduw ► Kundo, Swedish developer of digital customer service software, receives 50 SEKm investment from Standout Capital https://bit.ly/2xf6qWj ► Papirfly, Norwegian provider of Brand Activation Management software, has partnered with Standout Capital for a 33% stake, to leverage Norwegian, Danish and UK markets and accelerate international expansion https://bit.ly/2y0hfMo Playbook ► EG A/S, Danish software conglomerate, to build new division for software solutions after their acquisition of Holte and CalWin https://bit.ly/2xiqBT8 38 | 39
Nordic M&A Tech Refresh Selected deals: 2020 Week 11 (9 mar – 15 mar) Acquisitions, mergers and divestitures ► Inspari A/S, a Danish Business Intelligence firm, has been partly acquired by Blue Equity https://bit.ly/3dl370q ► Tocoman, provider of accounting software for construction, acquired by Admincom Finland Oy for EUR 10m https://bit.ly/2QDiWpn ► Framsikt AS, Norwegian provider of web-based products for municipalities, acquired by Visma https://bit.ly/3apJrGU ► Shibuya Crossing, Swedish data center expert, has merged with Pulsen, Swedish IT operation company, to form a leading company for business-critical IT solutions https://bit.ly/3a6DIpb Growth capital ► Fuzu, Finnish career platform, raises 3,4 EURm in a Series A funding round led by Sparkmind.vc https://bit.ly/2Ualz4f ► Haltian, Finnish IoT product development company, raises 9 EURm by Inventure, Ilmarinen, Nordic Option and a group of private investors through investment service SijoittajaPRO, including Head Invest https://cisn.co/33DoZ2t ► Aibidia, Helsinki-based transfer pricing platform, raises 4,2 EURm to help companies digitalize international tax https://bit.ly/3bjksVK ► Brandpad, Oslo-based cloud-based platform for managing brand portfolios, raise 0,3 EURm to help companies boost their brands https://bit.ly/2QD4r4T New funds ► Sparkmind.vc, Helsinki-based VC, is launching a EUR 40m Edtech fund focused on Northern Europe https://bit.ly/2Ualz4f Playbook ► Polaris Private Equity-backed ProData Consult are looking for new acquisitions after a strong 2019 https://bit.ly/3dlzxrx ► HiQ, the progressive Swedish-based digital transformation company, are looking to complement organic growth through Nordic acquisitions https://cisn.co/39cf45l 39 | 39
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