Notable deals in the Nordics
We have collected some significant tech related deals from the last few months in the Nordic market, made by Venture Capital, Growth Equity and Buyout investors.
Sweden's Industrifonden invests SEK 50 million in poLight, a Norwegian company developing an autofocus lens for smartphones. Another example of Nordic cross-border activity.
Nordic Capital makes an acquisition of the e-commerce football company Unisport, adding to their existing Danish Sportmaster retail business, in a trend where online retail is merging with offline.
Altor-owned Swedish online electronics retailer Dustin has listed on Nasdaq Stockholm with a SEK 3.8 billion market cap. Dustin is now the largest listed Nordic e-commerce company.
Canon offered to acquire Axis, the Swedish Lund-based network video camera maker, for $2.8 billion in cash, and is now in the process of completing the acquisition. Will we see more exciting deals coming from the Malmö/Lund cluster soon?
Valedo invests in Rapunzel, an online specialist in hair extensions, based in Umeå, Sweden. The deal is significant as mid-market private equity is increasingly entering tech and e-commerce.
H.I.G. Capital has acquired Fågelviksgruppen, a holding for Scandinavian taxi companies with combined revenues of SEK 5 billion. Is the plan to make traditional taxis more online and Uber-like?
Outfittery, a German online fashion retailer, raised $20 million from Northzone, Holzbrink Ventures, Mangrove Capital and others. Apparel continues to be one of the largest e-commerce categories.
Dawn Capital and Finish Industry Investment have invested €5.5m in LeadDesk, a Finnish Software-as-a-Service company. Two trends: international investors are teaming up with local Nordic co-investors, and many new exciting companies are coming out of Finland in the Post-Nokia era.
Swedish eye tracking technology firm Tobii started trading its shares on Nasdaq Stockholm in an IPO valuing the firm above SEK 2 billion. We can expect more tech-IPOs in the Nordics, if the market stays strong.
Bonnier Business Press acquires majority stake in Clio Online, Denmark’s largest publisher of digital learning materials. Education technology ("Edtech") has proved to be one of the most fast-growing tech sectors in the Nordics as schools are digitally transformed.
Creades acquires 70% of Inet, a leading Swedish retailer of computers, components and electronics with 55% of the revenue online. Yet another example of successful retailers combining online and offline.
Bridgepoint acquired a majority in Nordic Cinema Group from Ratos and Bonnier in a SEK 4.7 billion deal, apparently betting that cinema will continue to be a major entertainment distribution channel in the age of streaming.
Norwegian media group Schibsted made a new online move with an offer to acquire housing site Hemnet for SEK 1.5 billion, and then placed its flagship morning paper Svenska Dagbladet in the newly formed group MittMedia, where it will hold a 30% ownership. Schibsted continues to build its online focus, while dismantling old media.
In a significant Danish deal, Dansk Supermarked buys Wupti.com, adding more e-commerce resources to its existing group of retailers.