Oslo, Norway, May 15, 2019 – Kahoot!, the global learning platform, today announced its acquisition of Poio, the acclaimed learn-to-read app for all children. In record time, Poio has created a unique community in Scandinavia, helping more than 100,000 children to learn to read through play. In June, Kahoot! and Poio will launch the English edition of Poio, and make it available to all Kahoot!’s users world-wide.
The transaction is based on Kahoot! acquiring 100% of the shares in Poio AS for a total consideration of approx. USD 6.5 million on a cash and debt-free basis. The consideration will be settled by a combination of cash and new Kahoot! shares at a subscription price of NOK 25 per share. The transaction is expected to be completed by the end of June 2019.