Kahoot!, the global learning platform company, today announced the acquisition of Actimo, an employee engagement platform that empowers organizations to more efficiently build corporate culture with better communication, training, and interaction with the workforce.
Kahoot! is acquiring 100% of the shares in Actimo ApS for a total consideration reflecting an enterprise value ("EV") of USD 26-33 million on a cash and debt-free basis, to be settled in a combination of cash and shares, including a performance-based element. Completion of the transaction is subject to customary conditions and the transaction is expected to be completed in October 2020.
The company is bringing the next generation of learning to the modern workplace. Kahoot!'s game-based learning platform enables all kinds of organizations to create engaging presentations, training, events, and virtual learning. In the last 12 months, corporations and organizations around the world, including 97% of Fortune 500 companies, used Kahoot! at work to make learning awesome - with more than 2 million sessions and over 20 million participating players.
The acquisition of Actimo is a part of the strategy to strengthen the Kahoot! at work offering with employee tools to further enable all organizations to build their corporate culture. Actimo enhances Kahoot!'s corporate learning and engagement tools by combining the features of employee engagement from the Actimo platform with the learning approach, scale and reach of Kahoot!.
Kahoot! will continue to develop new services and solutions, and together with Actimo extend Kahoot! 360, the company's product for corporate learning scaled to enterprise, to fit the needs of today's HR, learning and development roles, and internal communications teams.
"We are excited to welcome the Actimo team to be part of the fast-growing Kahoot! family" said Kahoot! CEO, Eilert Hanoa. "This acquisition will further extend Kahoot!'s corporate learning offerings, by providing solutions tailored for the frontline segment, as well as to solidify company culture and engagement among remote and distributed teams in companies of all types and sizes. This continues our expressed ambition to also grow through M&A by adding strategic capabilities that we can leverage across our global platform."