Tofte & Company advises Practio on its 8.2 MEUR financing led by Spintop Ventures (Tofte & Company)
Tofte & Company is pleased to have acted as exclusive advisor to the digital health care platform company Practio on its 8.2 MEUR financing led by Spintop Ventures and joined by PHOENIX and Carl Westin, the international investment company with a focus on digital health.
Practio has developed and deployed a digital healthcare platform, which enables pharmacies to become central points-of-care. Initial Practio services include vaccinations and COVID-19 antibody testing, but the company is planning to roll out broader platform services over time. Practio has deployed its platform across Denmark since 2015 and started its rollout in the UK in 2019. The latest funding will be used to speed up the deployment in the UK and to enter the German market later this year with other countries to follow from 2021 onwards.
“We are truly impressed by the Practio team and the platform they have built over the last couple of years. The modular technology architecture of the Practio technology platform will enable rapid scaling into the next countries and services – incl. opportunities to combat the corona-crisis. We are looking forward to follow the journey of Practio,” says Poul Kotiah Hansen, Senior Associate at Tofte & Company”.
Practio co-founder & CEO Mads Mikkelsen further adds: “We have been very satisfied with Tofte & Company during this fundraising process. They have provided valuable advice in every phase of the process. The fundraising process was very streamlined and with their comprehensive understanding of tech startup businesses and insight into the healthtech startup fundraising scene they managed to secure a strong investor match”.
You can read the full announcement here.
KMD owned fintech company to acquire Norwegian software company, Concent (Banqsoft)
Nordic technology company Banqsoft, specialized in software for the financial services sector, has entered into an agreement to acquire Norwegian software company Concent. The acquisition will enhance Banqsoft’s capabilities, offer an additional product line within credit management and debt collection, and expand the customer base.
The strategic acquisition is part of an international growth strategy supported by Banqsoft’s owner, Danish IT group KMD, part of NEC Corporation, a global leader in the integration of IT and network technologies. Banqsoft will take over customer relations, software, and 85 employees located in Norway, Poland, and Sweden. The two companies will join forces and continue to grow as one Banqsoft. The acquisition is expected to be completed in September once all the preconditions for the transaction are satisfied.
The financial terms of the deal were not disclosed. However, the Norwegian business daily reported that the price of Concent, which had a turnover of MEUR 11.2 in 2018, is around MEUR 28.
Qentinel Finland to be acquired by Gofore for EUR 8.9m (GlobeNewswire)
Gofore has today agreed to acquire Qentinel Finland Oy, a specialist in software testing automation. The deal is estimated to be completed on 1 September 2020. The debt-free purchase price is MEUR 8.9. An additional purchase price has been agreed based on the EBITDA as stated in the current year’s financial results. Gofore expects the additional purchase price to total MEUR 1–2.
Gofore provides services needed by its clients in their digital transformation. The digital quality assurance services of Qentinel Finland will complement Gofore’s professional services offering. In addition, Qentinel’s superior testing automation and quality assurance expertise will improve Gofore’s ability to act as a provider with principal responsibility in large scale software projects.
ROOM raises MUSD 12.5 led by Silicon Valley venture funds (TechSavvy)
In 2018 the Danish serial entrepreneur Morten Meisner-Jensen founded ROOM. The company creates soundproof phone boots for office use and thus ties into the global trend of short-term office renting, co-working, and flexible work environments. This trend has only been accelerated by COVID-19 and ROOM already has 3.400 customers including Google, Nike, Apple, Uber, and WeWork.
The company has raised MUSD 12.5 led by venture funds from Silicon Valley. Danish architect Bjarke Engels has also contributed to the cap raise and he will now join ROOM’s Advisory Board.
The capital will be used to expand ROOM’s product offering. Already within the next month ROOM will launch two new products: a soundproof meeting room and a private office designed to enable social distancing.
Embracer Group announces three acquisitions to strengthen its position within the gaming industry (Embracer)
Embracer Group, through its wholly-owned subsidiary Saber Interactive, has entered into an agreement to acquire Malta-based 4A Games Limited, a top-tier independent AAA PC and Console developer. Through the acquisition, Saber Interactive onboards a reputable team of 150+ people across two studios in Malta and Ukraine as well as best-in-class internally developed and owned First-Person-Shooter technology to the Group. The upfront purchase price amounts to approximately MUSD 36 on a cash and debt-free basis and is paid in cash and in newly issued B shares, plus an earn-out consideration, subject to fulfillment of agreed milestones, of a maximum MUSD 35.
In a similar vein, Embracer Group announced that it has entered an agreement to acquire 100 percent of the shares in US/Canada based New World Interactive, an award-winning creator and developer of First-Person-Shooter IPs for PC. Through the acquisition, Embracer Group adds its first studio in Canada and establishes a strong foothold for further growth.
Furthermore, Embracer Group has entered into an agreement to acquire Germany-based Deca Live Operations GmbH, a mobile asset care and live operations expert within the Free-to-Play games segment. Through the acquisition, Embracer Group adds a strong team forming a key pillar in building a growing and profitable mobile and FTP business within the group while DECA will benefit from Embracer’s IP catalog, access to capital and deal flow. The upfront purchase price amounts to approximately MEUR 25 and is paid in newly issued B shares, plus an earn-out consideration, subject to fulfillment of agreed earnings targets, of a maximum of approximately MEUR 60.
Bolero acquired by NetNordic (NetNordic)
Bolero, an established Swedish provider of services related to cloud, cybersecurity, analytics, network, data center, and system development has been acquired by Norwegian system integrator NetNordic. Both companies work primarily with large and medium-sized customers in both the public and private sectors.
NetNordic has the ambition of becoming the leading Nordic system integrator, and through the acquisition of Bolero it will add competence and capacity to deliver value-added services and solutions within system integration in the Nordic market.
The financial terms of the deal were not disclosed. The management shareholders in Bolero are reinvesting in NetNordic and will continue to focus on developing the business in Sweden and the Nordics.
EG acquires Altiplan (EG)
EG’s subsidiary Silkeborg Data A/S acquires the Danish software company Altiplan Aps. The company provides a unique rostering system, HosInfo, that is used on more than 70 hospital wards in Denmark.
With this strategic acquisition, EG is strengthening and expanding its strong suite of payroll and rostering solutions to the public sector. Altiplan’s core solution, HosInfo, automatically prepares work plans and ensures that the resources of each department are utilized optimally. The solution is a good fit with EG company Silkeborg Data’s own market-leading planning and rostering solutions.
The seller and the buyer have agreed not to disclose further details concerning the sales price and other terms of the transaction.