Kahoot! is today announcing an agreement for a recommended voluntary offer from Goldman Sachs Asset Management, together with the growth equity fund General Atlantic, KIRKBI Invest (owned by KIRKBI/LEGO group), founders and management, as well as other shareholders to take Kahoot! ASA off the Oslo Stock Exchange, after which the company will be run as a privately owned company.
The Board of Directors and I believe the terms of the offer are in the best interests of Kahoot! and our shareholders, and that this will benefit our users, customers, employees and partners. We have recommended accepting the offer as it represents a fair valuation of the company, as well as significant opportunities for accelerating the company’s journey to make learning awesome for everyone.
Since Kahoot! was founded in 2012, the company has seen a rapid growth trajectory, catalyzed by viral adoption by school and business users. Along the way, the Kahoot! Group has expanded with the acquisition of seven companies, including Clever, one of the most widely-used digital learning platforms in U.S. schools. Kahoot! is now a trusted destination for supporting lifelong learning and engagement, used by businesses, schools and families around the world to connect and energize audiences and bring joy to learning for all ages.
Today, Kahoot! provides a compelling platform for further growth and value creation given its unique brand and product offering, customer base, extensive reach and highly scalable technology and operations.
The investor consortium believes Kahoot! would benefit from operating as a private company in the years ahead, with the support of this investor group in the development of our current business and on our continued growth journey, both organically and through acquisitions.
With the support of the new owners, the Kahoot! Group would have access to necessary capital to accelerate the company’s growth agenda, as well as global resources, networks and expertise in scaling technology companies. As a mission-driven company it is equally important to recognize the shared core values with Kahoot!’s mission – including KIRKBI’s long commitment to education and play.
For the Kahoot! Group, if the process is concluded successfully, this will enable additional investments in developing great products, bringing them to more learners around the world, and funding new leaps forward to make learning even more awesome!
Completion of the process is expected to happen in the second half of 2023. Stay tuned for more information related to this exciting opportunity for the Kahoot! Group.
