Kahoot! to be bought by Goldman Sachs for NOK 17.2 billion in cash

New York, Jul. 15, (dpa/GNA) – Norwegian game-based learning platform Kahoot! said on Friday that it has signed a deal for an all-cash offer from the funds managed by Goldman Sachs Asset Management of Goldman Sachs Group.

The offer is to acquire its all shares for NOK 35 per share ($3.50) or NOK 17.2 billion.

The offer is being made by Kangaroo BidCo AS, a Norwegian limited liability firm formed by Goldman Sachs for the purpose of the offer.

The offer represents a premium of 53.1% to the closing price of NOK 22.86 on the Oslo Stock Exchange on May 22. It also represents a premium of 33.3% to the 3-month volume weighted average price of NOK 26.26, and 62.1% to the 6-month volume weighted average price of NOK 21.59 on July 13.

For the second quarter, according to its preliminary figures, Kahoot! expects revenue of over $41 million, up 14% from last year. It projects to register adjusted EBITDA of around $11 million, up 60% from last year quarter.

GNA