May 8, 2020

Sweden-based Sinch to acquire SAP Digital Interconnect for EUR 225M (GlobeNewsWire)

Publicly listed Sinch (SINCH) will acquire SDI for EUR 225M on a cash and debt-free basis, including all assets and IP belonging to SDI.

The target offers cloud-based communications products, and has over 1,500 enterprise customers worldwide. The combined entity will serve close to 70 billion engagements per year, and the acquisition strengthens Sinch’s business in Europe, Asia-Pacific and India, as well as improving its resources in the US.

The deal represents Sinch’s second EUR 100M+ deal since late March 2020, after acquiring Wavy in a deal valued at EUR 110.3M

 

Europe’s highest valued private Fintech company, Klarna, acquires e-retail platform, Nuji (Nuji)

Nuji’s platform featured over 5,000,000 items and 10,000 designers from various brands. According to DI Digital, Klarna aim to create its own e-retail platform to which Nuji’s assets and staff was acquired. Nuji will be closed down within two months and its member accounts deleted.

With 85 million shoppers, 200,000 retail partners and one million transactions per day, Klarna offers a wide range of products and services within payments, social shopping, and personal finances.

 

High pre-subscription interest sees Penneo increase their upcoming IPO raise to EUR 6.7M. Pre-money valuation at EUR 33.5M (Børsen)

Despite upsizing their IPO to EUR 6.7 from EUR 4.7M (a 42.6% increase), Penneo will keep the offering price of EUR 1.49, and will conduct an offering of EUR 1.9M. The offer starts on May 7th, with the IPO dated for June 2nd 2020. The share will be listed on Nasdaq First North

Managing Director Niels Henrik Rasmussen said that the company could have increased the raise amount to EUR 20M, but Penneo prefers to prove itself as a long term investment first.

 

Synergy Sky, a Norwegian video conferencing company, partly acquired by Swedish investor Hakan Roos (Digital.di)

The Swedish Tech billionaire acquired Synergy Sky via his company Roosgruppen. According to Digital.di, Roosgruppen has injected EUR 6M new capital into the target, and will gain a stake of around a third of the company.

The Swedish business daily cited Synergy Sky Managing Director Stale Reitan saying that the new funds will facilitate expansion abroad.

The global video conferencing industry has gained traction during the Covid-19 outbreak, with the ban on travel limiting the reach of companies – especially in foreign markets. The last decade’s market growth has led to increased adoption of video conferencing software due to an increasing focus of companies towards the expansion of their businesses in the global market, and in the management of the workforce in foreign markets (Globenewswire).

 

Mobile Sandbox MMO developer, Dazzle Rocks, closes a EUR 6.3M Series A led by Galaxy Interactive (Spintop)

The round consists of new investments and conversion of existing notes. Also participating were Spintop Ventures, Ken Lamb (Dazzle Rocks Chairman and Co- founder of Initial Capital), byFounders, David Helgason, MTG, Sisu Game Ventures, and investors from the company’s earlier financing rounds.

According to Spintop’s press release, the investment will be used to continue developing the company’s next generation social gaming experience in a sandbox world.

 

Total Specific Solutions (TSS) targets the Finnish software market for future acquisitions (Mergermarket)

Mika Savolainen, Director of TSS’ Finnish operations stated that the company is looking at software houses that operate in different sectors.

The Director is also cited saying that it is looking beyond the current coronavirus situation and is currently in discussions with new targets.

TSS recently acquired Futunio, a Finnish software company. View more details about this deal on our former update from April 17th, 2020