June 26, 2020

Facebook acquires Sweden-based crowdsourced imagery platform Mapillary (Siliconcanals)

Previous backers of Mapillary include Sequoia Capital, Atomico, BMW i Ventures, and Samsung Catalyst Fund. The company will be merged into Facebook’s broader open mapping efforts.

The company provides a crowdsourced global street-level imagery platform with tens of thousands of contributors offering imagery and data to make better maps. They have raised a total of EUR 22M over three funding rounds since being founded in 2013 and has 59 employees according to LinkedIn.

Interestingly, co-founder and CEO Jan Erik Solem previously founded Polar Rose, a face recognition solution for mobile and web that Apple acquired in 2010. A deal our very own Thomas Tofte advised on.

 

Investcorp-backed Ageras acquires Tellow  and receives investment from Rabobank (Tofte&Company)

The major European bank, Rabobank, invests in Ageras via its strategic investment fund, Rabo Frontier Ventures.

Furthermore, Ageras acquired the Dutch SaaS accounting company Tellow. According to co-founder and CEO of Ageras, Rico Andersen, the strategic rationale behind the acquisition was to expand the combined ecosystem.

According to Computerworld, Tellow is the Dutch answer to the Danish SaaS-based accounting platform Billy, which Ageras acquired last year. Tofte & Company are proud to have advised Ageras on both acquisitions, as well as their latest capital raise from Rabobank.

 

EG-owner aims to continue aggressive acquisition strategy (ITwatch)

Francisco Partners, who acquired EG from the Danish PE firm Axcel in 2019, has raised EUR 9 billion in their latest fund raise.

Petri Oksanen, Partner at Francisco Partners, was instated as Chairman of EG at the time of the acquisition. He told ITwatch, that they are ready to support EG financially – and there is “no upper limit” to how much they are willing to fund EG’s acquisitions. “It is only about whether it is the right acquisition for EG or not”, Oksanen said.

EG’s CEO Mikkel Bardram has previously stated that the company is ready to make acquisitions in the DKK billions. In the last 12 months, EG has acquired 5 companies, and the chairman is ready to continue their aggressive acquisition strategy.

 

SAP-competitor Mercell acquires Danish fintech company Tricom (Computerworld)

Norwegian Mercell has recently been investing heavily in the Nordics – aiming to take on the fight with the source-to-pay solutions providers, such as SAP, Visma and Tradeshift.

Tricom will continue as an independent brand in the Mercell Group and will be expanding throughout Europe. The company was founded in 2011 and currently employs 25 people according to the source.

 

Acast, a Swedish podcast company, has raised EUR 50M in new capital from EIB and existing shareholders (Nordic9)

The round is divided in two; a EUR 25M credit facility from the EIB, where the financing is supported by the Juncker Plan (Investment Plan for Europe), and the remainder from an equity raise led by existing shareholders Alfvén & Didriksson, Moor Capital, Bonnier Ventures, Första AP Fonden and Swedbank Robur.

The company hosts independent podcasts, as well as larger publishers, such as the Financial Times, the Guardian, Vogue, Aftonbladet and Billboard. Acast hast over 125 million monthly listeners globally, and generated sales of EUR 34.4M in 2019.

 

Visma aims to continue aggressive acquisition strategy despite Covid-19 – has acquired 7 targets YTD (ITwatch)

Two of Visma’s lastest seven acquisitions have been in Denmark, and according to Director Carsten Boje Møller, they expect to make several over the summer holidays. Visma usually acquires ca. 20 companies per year.

The Director also stated in another article from ITwatch, that their focus is particularly on startups with innovative solutions on the Danish market.

Visma Denmark owns 14 companies, incl. E-conomic, Dinero, Visma Enterprise, and the Danish Visma companies have combined revenues of EUR 200M.

 

Shape Robotics IPO on Nasdaq First North Growth Market Denmark (OMXGroup)

Yesterday (re: June 25, 2020) Shape Robotics launched their initial public offering on Nasdaq First North Growth Market in Denmark.

According to Shape Robotics, the company made proceeds of EUR 3.6M with an oversubscription of 486% on the offering of EUR 1.31 per share. The share opened at EUR 1.55 and closed its first day of trading at EUR 1.44.

The company is a Danish educational technology company that has develop the robot Fable. Fable is an innovative modular robot system that makes it easy and fun for students to build and program their own robots.

Shape Robotics are the 5th company to be listed on Nasdaq Copenhagen this year. Please also find our previous coverage of this deal on our website.