Kahoot! To Be Bought By Goldman Sachs For NOK 17.2 Bln In Cash

(RTTNews) - Kahoot! ASA (KAHOT.OL), a Norwegian game-based learning platform, said on Friday that it has signed a deal for an all-cash offer from the funds managed by Goldman Sachs Asset Management LP of Goldman Sachs Group Inc. (GS) to acquire its all shares for NOK 35 per share or NOK 17.2 billion.

The offer is being made by Kangaroo BidCo AS, a Norwegian limited liability firm formed by Goldman Sachs for the purpose of the offer.

The offer represents a premium of 53.1 percent to the closing price of NOK 22.86 on the Oslo Stock Exchange on May 22.

It also represents a premium of 33.3 percent to the 3-month volume weighted average price of NOK 26.26, and 62.1 percent to the 6-month volume weighted average price of NOK 21.59 on July 13.

For the second quarter, according to its preliminary figures, Kahoot! expects revenue of over $41 million, up 14 percent from last year. It projects to register adjusted EBITDA of around $11 million, up 60 percent from last year quarter.