Norwegian edtech unicorn Kahoot! has acquired Actimo, the Danish startup behind an employee engagement platform. To be exact, the Oslo-based company is buying 100 percent of the shares in Actimo for a total consideration reflecting an enterprise value of $26-33 million on a cash and debt-free basis.
The transaction will be settled in a combination of cash and shares, including a performance-based element, and is subject to standard conditions. The deal should be final in October, and further details will be shared in the unicorn’s Q3 report.
This is the edtech company’s first acquisition in corporate learning as it attempts to build its ‘Kahoot! at work’ offering. Specifically, the Actimo platform brings in “solutions tailored for the frontline segment,” as well as remote and distributed teams. The Copenhagen-based team will join Kahoot! as well. Together they’ll continue to build new services for Kahoot! 360, a corporate learning product scaled to enterprise.
Just three months ago, the Oslo-based company completed a private placement of 7.5 million shares with a group of US and Europe-based institutional investors, raising about $28 million in new equity.