Tech deals in the Nordics
Digital transformation in finance: As big banks and other traditional financial institutions face the challenge of new players in FinTech, Swedish bank SEB
made a move and invested
in financial planning app Tink
Digital transformation of media: Swedish streaming audio book company Storytel acquired
Danish competitor Mofibo
for SEK 125 million, and more spectacularly bought
the traditional publishing house Norstedts
for SEK 150 million.
Digital transformation of education: DigiExam
, a tool for academic tests, raised a $3.5 million
, and Coursio
, a SaaS for producing online courses, raised $1.2 million
while investors injected SEK 86 million
in Norway's Kahoot
, gamification of education. Education Technology (EdTech) continue to be a busy area.
There is US appetite for Swedish companies. Buyout fund Thoma Bravo acquired
busines intelligence company Qlik
in a deal worth $3 billion and General Electric wants to buy
additive manufacturing ("3D-printing") company Arcam
for almost SEK 6 billion. Meanwhile, Illinois-based LRS acquired Cirrato
, an innovative printer network software company in Stockholm.
Meanwhile Axis, recently acquired by Japan's Canon, bought Cognimatics
in a logical deal. Axis
is a world leader in network video, while Cognimatics is an innovator in video and image analysis, used for understanding customer movements in retail spaces.
Monitoring consumers' digital behaviour is a big deal, and Finland's Verto Analytics raised $16 million
for further expansion in a round led by a group including EQT Ventures
, Conor Venture Partners
, Open Ocean
and Finnish Industry Investment
In Denmark, Nets
started trading as the IPO valued the payment company at $4.5 billion
, the second largest listing in Europe so far this year. Nets will continue to focus on the Nordics.
And finally, digital transformation in funerals: Sweden's Funera
offers an online service for funerals and has raised SEK 15 million
and others. Funera is now one of the top 10 largest funeral providers in Sweden, disrupting an ancient market.