Oslo, Norway (22 April 2021) – The acquisition has now been completed and the initial consideration for the Motimate shares has been settled by a combination of cash and new Kahoot! shares to be issued. The Board of Directors of Kahoot! has accordingly resolved to increase the share capital of Kahoot! pursuant to the authorization given to the Board of Directors by the extraordinary general meeting held on 14 January 2021 with NOK 110,499.40 by the issuance of 1,104,994 consideration shares to the shareholders of Motimate at a subscription price of NOK 93.90 per share in accordance with the Motimate share purchase agreement. The selling shareholders of Motimate who receive consideration shares have entered into lock-up agreements with Kahoot! pursuant to which the consideration shares are subject to lock-up of up to two years from completion of the acquisition.
Following this share issue, the new share capital of the Company is NOK 44,750,347.10, divided into 447,503,471 shares, each with a nominal value of NOK 0.10.
For further information please contact:
Eilert Hanoa, CEO
Phone: +47 928 32 905
Email: eilerth@kahoot.com
Ken Østreng, CFO
Phone: +47 911 51 686
Email: keno@kahoot.com
About Kahoot!
Kahoot! is on a mission to make learning awesome! We want to empower everyone, including children, students, and employees to unlock their full learning potential. Our learning platform makes it easy for any individual or corporation to create, share, and play learning games that drive compelling engagement. Launched in 2013, Kahoot!’s vision is to build the leading learning platform in the world. In the last 12 months, more than 250 million games have been played on the Kahoot! platform with 1.5 billion participating players in 200 countries. The Kahoot! family also includes award-winning DragonBox math learning apps, the Poio learn to read app, the Drops language learning apps, the Actimo employee engagement platform and Whiteboard.fi, the online whiteboard tool for all educators, teachers and classrooms. The Kahoot Group is headquartered in Oslo, Norway with offices in the US, the UK, France, Finland, Estonia, Denmark and Spain. Let’s play!
About Motimate
Motimate is all about making learning fun, easy and rewarding. At Motimate we believe passionately in the power of life-long learning to make a positive difference in the world. Shared knowledge and understanding not only make us smarter, but bring us closer, too, breaking down barriers and building trust. That’s why we wanted to create a digital application to make learning easier. Motimate is a mobile-first application that makes learning fun, easy and accessible for everyone. Motimate is an award-winning tech scale-up launched in 2017. The company employs more than 40 people in 7 countries and is headquartered in Oslo, Norway, and is the result of more than 15 years of experience helping some of Scandinavia’s largest companies make learning accessible and engaging for their people. Working with 200 companies including DNB, Varner, REMA 1000, Narvesen, Jernia, Telia, AF Gruppen, BI and Atea, we know that people love learning with Motimate. Over 130,000 learners use Motimate in 35 countries.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.