Nordic M&A Tech Refresh - Selected deals: Updated 23.08/2020 Updated every Monday morning, here - Fremdrift

Nordic M&A
Tech Refresh
Selected deals: Updated 23.08/2020
Updated every Monday morning, here

                                     1 | 34

Nordic M&A Tech Refresh

Contents
Selected deals: 2020 Week 34 (17 aug – 23 aug)         3
Selected deals: 2020 Week 33 (10 aug – 16 aug)         5
Selected deals: 2020 Week 32 (03 aug – 09 aug)         6
Selected deals: 2020 Week 31 (27 july – 02 aug)        7
Selected deals: 2020 Week 30 (20 july – 26 july)       8
Selected deals: 2020 Week 29 (13 july – 19 july)       9
Selected deals: 2020 Week 28 (06 july – 12 july)      10
Selected deals: 2020 Week 27 (29 june – 05 july)      11
Selected deals: 2020 Week 26 (22 june – 28 june)      12
Selected deals: 2020 Week 25 (15 june – 21 june)      13
Selected deals: 2020 Week 24 (08 june – 14 june)      14
Selected deals: 2020 Week 23 (01 june – 07 june)      15
Selected deals: 2020 Week 22 (25 may – 31 may)        17
Selected deals: 2020 Week 21 (18 may – 24 may)        18
Selected deals: 2020 Week 20 (11 may – 17 may)        19
Selected deals: 2020 Week 19 (04 may – 10 may)        21
Selected deals: 2020 Week 18 (27 apr – 03 may)        23
Selected deals: 2020 Week 17 (20 apr – 26 apr)        24
Selected deals: 2020 Week 16 (13 apr – 19 apr)        26
Selected deals: 2020 Week 15 (06 apr – 12 apr)        27
Selected deals: 2020 Week 14 (30 mar – 05 apr)        29
Selected deals: 2020 Week 13 (23 mar – 29 mar)        31
Selected deals: 2020 Week 12 (16 mar – 22 mar)        33
Selected deals: 2020 Week 11 (9 mar – 15 mar)         34

                                                   2 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 34 (17 aug – 23 aug)

Acquisitions, mergers and divestitures
   ►   Devoteam, global IT consultancy, acquires 70% stake in Inviso, Denmark-based provider of
       business intelligence and data analytics
       https://bit.ly/3jbY2cH

   ►   Symbrio, Sweden-based provider of software for the installation industry, acquired by
       Constellation Software Inc’s Volaris Group, a vertical market technology provider
       https://bit.ly/32k057L

   ►   ATS AB, Sweden-based 3D digital software and equipment provider, acquired by FARO
       Technologies, Florida-based 3D measurement, imaging and realization software and equipment
       provider
       https://bit.ly/2FGQQqD

   ►   Bilot, Finland-based software and IT service provider, to merge with CastorIT, Finland-based SAP
       solutions provider
       https://cisn.co/2YvmxtM

Growth capital
   ►   Cobalt.io, Danish-born cybersecurity platform for penetration testers, raises 29 USDm in Series B
       led by Highland Europe
       https://bit.ly/2FRvNlt

   ►   Quuppa, Finland-based provider of real-time location systems, raises 20 EURm from Bocap and
       TCG Oy
       https://bit.ly/2Ex2fsM

   ►   Hiber, Sweden-based provider of web platform for user-generated games, raises 2,25 USDm in its
       second round of funding by Luminar Ventures, Wild Sloths, Bumble Ventures, Sybo, Konvoy
       Ventures and GFR Fund
       https://bit.ly/3jbY4Bl

   ►   Smoc.ai, Norway-based chabot and advertisement SaaS, raises 3,6 NOKm in funding round led by
       Skyfall Ventures
       https://bit.ly/32gdQod

   ►   Zuuvi, Denmark-based platform for designing banner ads, raises capital from Weco A/S
       https://bit.ly/2YuwtDP

   ►   Visma, Norway-based European leader in vertical software, receives investments from new and
       existing investors, valuing the company at 12,2 billion USD
       https://bit.ly/2Qmo0he

   ►   Adnavem, Sweden-based SaaS marketplace for transport and logistics, raised 4 USDm by Runa
       Capital and Spintop Ventures
       https://bit.ly/2EtXr7r

                                                                                                   3 | 34

Nordic M&A Tech Refresh

New funds
   ►   Accelerace, launches its second pre-seed fund, backed by Færchfonden, Vækstfonden and
       Symbion, targeting newly established Danish startups
       https://bit.ly/34uT9Yf

                                                                                               4 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 33 (10 aug – 16 aug)

Acquisitions, mergers and divestitures
   ►   EG’s subsidiary Silkeborg Data A/S, Denmark-based vertical software provider, acquires Altiplan
       ApS, Denmark-based provider of HosInfo rostering system for hospital wards
       https://bit.ly/3kOw5cP

   ►   Viking Venture-backed, House of Control Group, Norway-based provider of cloud-solutions for
       finance departments, acquires DinERP, Norway-based provider of ERP solutions
       https://bit.ly/3h5dGWP

   ►   Quentinel, Finland-based specialist in software testing automation, acquired by Gofore, Finland-
       based digitalization specialist
       https://bit.ly/34654vi

   ►   Norvestor-backed NetNordic, Norwegian-based leading Nordic system integrator, acquires Bolero,
       Sweden-based provider of cloud, cyber security, analytics, network and data centre services
       https://bit.ly/2PZExI6

   ►   Banqsoft, owned by KMD, Nordic provider FinTech solutions, acquires Concent AS, Norway-based
       provider of credit management and debt collection software
       https://bit.ly/2Y6OvvM

   ►   LeadScoreApp, Denmark-based provider of lead scoring and email targeting automation, acquired
       by Fastbase, US-based web and database analytics company
       https://bit.ly/3iK31Bm

Growth capital
   ►   ROEQ, Denmark-based producer of robotics carts, lifters and rollers from MiR-robots, raises
       capital from VækstPartner Kapital and its 80 Danish investors
       https://bit.ly/311nxaL

   ►   Varjo, Finland-based producer of VR/XR hardware and software, raises 54 USDm in Series C
       funding led by new investors Tesi, NordicNinja, Swisscanto Invest, and previous investors Lifeline
       Ventures, Atomico, EQT Ventures and Volvo Cars Tech Fund
       https://bit.ly/3119RMM

   ►   Practio, Denmark-based digital healthcare platform, raises 8,2 DKKm in equity funding round led
       by Spintop Ventures, to accelerate its international expansion
       https://bit.ly/3iMqsKl

   ►   Labster, Denmark-based EdTech provider of VR-enabled laboratories, raises 9 USDm in equity
       venture funding from GGV, and existing investors Owl Ventures, Balderton and Northzone
       https://tcrn.ch/3h71rZS

New funds
   ►   Nordic Secondary Fund (N2F), to invest 350 DKKm in 20 to 30 Nordic growth companies.
       Maximum ownership stake of 10%. Currently 75 investors have backed the fund. Fund number two
       expected to close at 750 DKKm
       https://bit.ly/3g4hk1T

                                                                                                     5 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 32 (03 aug – 09 aug)

Acquisitions, mergers and divestitures
   ►   Visma, Norway-based European leader in cloud business solutions, acquires Yuki, Netherlands-
       based all-in-one accounting software platform
       https://bit.ly/3kv1fpe

   ►   Pentia, Denmark-based IT consultancy, acquires Klausen + Partners, Denmark-based B2B
       marketing agency. Together the brands will create a full-service customer experience agency,
       combing both technology and creative competences
       https://bit.ly/3a8qx7S

   ►   LogPoint, Denmark-based leading provider of security information and event management
       software, to acquire agileSI, Germany-based leading SAP security solution from Orange
       Cyberdefense. The deal includes a partnership agreement, conserving the technology as part of
       Orange’s cybersecurity portfolio
       https://bit.ly/3abw5yD

   ►   Pinja, Finland-based vertical software provider, acquires PiiMega, Finland-based developer of
       software for the forestry industry, e-commerce solutions and ERP systems
       https://bit.ly/3abwj8X

Growth capital
   ►   Neutral DSP Technologies, Finland-based provider of sound processing software and hardware for
       musicians, raises 5 EURm from CapMan, previous investors, as well as music and technology
       influencers
       https://bit.ly/3imgm2y

   ►   Blue Ocean Robotics, Denmark-based developer, producer and seller of robots for healthcare,
       hospitality, construction and agriculture, raises 122 DKKm from Niels Thorborg, Nordic Eye and
       other new and existing investors
       https://bit.ly/30IQqZ8

New funds
   ►   CapMan, Finland-based Private Equity fund, raises 74 of 85 EURm for its second growth fund. The
       fund will target minority investments, 3 to 20 EURm, in Finnish growth companies with turnover of
       5 to 100 EURm
       https://bit.ly/3ku3dWY

   ►   Idekapital, Norway-based technology fund, raises 600 of 800 NOKm for its second fund. Among
       the investors are KLP, Oslo Pensjonsforsikring, Gjensidige Foundation, Investinor, Lundhs
       Labradoreksport and Magnus Carlsen. The fund targets Norwegian-based B2B SaaS companies
       with global potential
       https://bit.ly/33Ooi8y

                                                                                                   6 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 31 (27 july – 02 aug)

Acquisitions, mergers and divestitures
   ►   Modcam, Sweden-based provider of data-driven computer vision insights, acquired by Cisco,
       America-based global provider of networking and telecommunication hardware, software and
       services. To be integrated in Cisco Meraki smart cameras business
       https://bit.ly/33ldajA

   ►   Mindville, Sweden-based JIRA IT service and asset management solutions provider, to be acquired
       by Atlassian, Australia-based provider of team collaboration and productivity software
       https://bit.ly/30jJ121

   ►   Double Star, Finland-based game studio, acquired by Huuuge Games, Poland-based global free-to-
       play game developer and publisher
       https://bit.ly/3focdcC

   ►   EcoOnline, Norway-based provider of workplace health and safety software, acquires UK-based
       competitor Airsweb
       https://bit.ly/33kgLy4

Growth capital
   ►   LocalizeDirect, Sweden-based localization software company, raises 10,2 SEKm from Entreprenör
       Invest (IKEA Family Foundation) VC’s and angels
       https://cisn.co/30mVBOg

                                                                                                7 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 30 (20 july – 26 july)

Acquisitions, mergers and divestitures
   ►   Adevinta ASA, Norway-based leading online marketplace operator, to acquire eBay Classifieds
       Group from eBay Inc. Schibsted ASA to support the acquisition by acquiring the Danish assets,
       including the DBA.dk and Bilbasen.dk brands
       https://bit.ly/2D7oXqE

   ►   Retail Solution, Norway-based provider of IT solutions for the restaurant and catering industry,
       partly acquired by the wealthy Norway-based Øgreid family
       https://bit.ly/2OXeP6n

Growth capital
   ►   TinyMobileRobots, Denmark-based producer of outdoor surveying and marking robots, raises 13
       DKKm from existing investor Anders Fauerskov and employees Mads Genefke and Sune Larsen
       https://bit.ly/3jFPdZZ

                                                                                                    8 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 29 (13 july – 19 july)

Acquisitions, mergers and divestitures
   ►   Oikotie Oy, Finland-based operator of classified websites for jobs, businesses and housing,
       acquired by Schibsted ASA from Sanoma Oyj
       https://bit.ly/2Cxd4do

   ►   Instantor, Sweden-based provider of credit risk management solutions, set to be acquired by Tink,
       Sweden-based leading European open banking platform
       https://bit.ly/3jovFJe

Growth capital
   ►   Voi, Sweden-based provider of micro-mobility scooters, raises 30 USDm from existing investors
       after reaching profitability, plans to enter UK market after government test runs
       https://bit.ly/39eppiK

   ►   Lucinity, Iceland-based provider of intelligent anti-money-laundering (AML) solutions, raises 6,1
       USDm by Karma Ventures and byFounders, with participation from previous investors Crowberry
       Capital and Preceptor Capital
       https://bit.ly/2COmxNl

   ►   Percepio, Sweden-based creator of runtime visualization tools for embedded IoT software, raises
       22 SEKm in funding round led by Fairpoint Capital
       https://bit.ly/2Ct2h44

   ►   Brinja, Sweden-based provider of IoT cloud systems for construction safety, raises 10 SEKm from
       Almi Invest, existing and angel investors
       https://bit.ly/3fKB2QX

   ►   StockRepublic, Sweden-based open banking platform for investments, raises 5,6 SEKm from Almi
       Invest and angels
       https://bit.ly/3fFTxG6

                                                                                                     9 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 28 (06 july – 12 july)

Acquisitions, mergers and divestitures
   ►   Storytel, Sweden-based audiobook subscription service, acquires Kitab Sawti, Swedish-based
       subscription service for Arabic audiobooks and podcasts
       https://bit.ly/3iWtbBE

   ►   Paradox Interactive, Sweden-based game publisher, acquires Playrion Game Studio, France-based
       mobile-focused game developer
       https://bit.ly/2AWA0Cg

   ►   One.com, Denmark-based webhost, acquires Larsen Data (GratisDNS.dk), Denmark-based domain
       registration service
       https://bit.ly/2WbU1Mq

   ►   Opera Software, Norwegian-based browser and application developer, to acquire Fjord Bank,
       Lithuania-based digital neo-bank startup, in order to offer its first FinTech offering to the
       European market
       https://bit.ly/3gRn3sI

Growth capital
   ►   Yubico, Sweden/USA-based producer of security wearables and devices, raises 300 SEKm from
       AMF Pension
       https://bit.ly/32f2QJc

   ►   Quickchannel, Sweden-based provider of high-performance online streaming and recording
       services, raises 6,75 SEKm from blq invest
       https://bit.ly/2WfuBgZ

   ►   Finch 3D, Sweden-based SaaS design tool for architects, raises 3 SEKm from Almi Invest
       https://bit.ly/32dKI2C

   ►   Traplight, Finland-based mobile game development studio, raises 8 EURm led by EQT Ventures
       with participation from Play Ventures and existing investors Initial Capital and Heartcore Capital.
       The funding will be used on its launch of Battle Legion
       https://bit.ly/3gXDHqJ

   ►   Basemark, Finland-based developer of graphics and autonomous driving software, raises 7 EURm
       from ETF Partners
       https://bit.ly/3iXdPx2

   ►   MariaDB, Finland-based database software developer, raises 25 USDm from SmartFin Capital, in
       order to expand its cloud operations
       https://bit.ly/3iUMgEp

                                                                                                    10 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 27 (29 june – 05 july)

Acquisitions, mergers and divestitures
   ►   AddPro AB, Sweden-based provider of mission-critical IT services, acquired by Danish private
       equity fund Axcel from Adelis Equity Partners
       https://bit.ly/2Z0cRrC

   ►   Coach Solutions, Denmark-based supplier of software for vessel performance and monitoring,
       acquired by Kongsberg Digital, Norway-based provider of software and digital solutions to
       maritime, oil, gas, renewables and utilities
       https://bit.ly/3ea4nmp

   ►   A-Data, Denmark-based provider of healthcare software for doctors, acquired by EG, Nordic leader
       of vertical market software, and to be integrated in its healthcare division
       https://bit.ly/2ZBqWuO

   ►   FotoWare, Norway-based provider of Digital Enterprise Asset Management software, acquired by
       Norway-based private equity fund, Viking Venture, a leading investor in Nordic software solutions
       https://bit.ly/3ffXWzz

   ►   Create-Solutions, Norway-based PropTech SaaS company acquired by Visma in order to
       strengthen its position in the digitalization of the real estate market
       https://bit.ly/2BETgo0

   ►   Pulsen AB, Sweden-based vertical market software provider, sell its end-to-end retail ERP
       activities to Total Specific Solutions, Netherlands-based developer of vertical market software
       solutions
       https://bit.ly/2VN1Qbq

   ►   Netpublicator, Sweden-based provider of document- and case management SaaS, acquired by
       Addnode Group, a leading supplier of software and services in Europe
       https://cisn.co/3e9tgyA

Growth capital
   ►   Undo, Denmark-based InsurTech, raises 4,7 EURm from Tryg to improve car insurance
       https://bit.ly/3ffXWzz

   ►   Cobiro, Denmark-based website building platform, raises 6,7 EURm from Danske Bank customers
       https://bit.ly/38sMhe3

   ►   Bambuser, Sweden-based provider of live video shopping technology, raises 290 SEKm through
       directed share issue with participation from Harmony Partners and others
       https://prn.to/3gwoyfO

   ►   Willa, Sweden/America-based FinTech startup raises 3 USDm from EQT Ventures, Moonfire
       Ventures, and Nordic Makers and private investors to help freelancers with payments and
       administrative tasks
       https://tcrn.ch/31PhXcm

                                                                                                   11 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 26 (22 june – 28 june)

Acquisitions, mergers and divestitures
   ►   Tricom, Denmark-based procurement platform, acquired by Viking Venture-backed Mercell,
       Norway-based Nordic/European leader in e-tendering solutions
       https://bit.ly/3eJmTmt

   ►   Investcorp-owned Ageras, professional services marketplace, acquires Tellow, Netherlands-based
       accounting tool for freelancers
       https://bit.ly/3eKkMyI

   ►   APX10, Denmark-based SaaS data analytics platform for water and wastewater, acquired by
       Private Equity firm Cimbria Capital
       https://bit.ly/2Ac1PpP

Growth capital
   ►   Insurello, Sweden-based Insurtech startup securing fair compensation, raises 7,1 EURm in
       investment round led by Inventure and Schibsted with participation from Luminar Ventures
       https://bit.ly/38dksX4

Playbook
   ►   Visma to continue its acquisition hot streak: Plans to grow 10% year on year, on both organic and
       inorganic growth measures
       https://bit.ly/3dHMlY4

                                                                                                  12 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 25 (15 june – 21 june)

Acquisitions, mergers and divestitures
   ►   Mapillary, Sweden-based digital mapping services for self-driving vehicles, acquired by Facebook.
       The company was backed by Atomico, Sequoia, PlayFair, LDV Capital, and Catalyst
       https://bit.ly/2NfLkf4

   ►   Sinch, Sweden-based communications platform for mobile engagement, acquires ACL Global, a
       India-based cloud communications provider
       https://bit.ly/3dpu01Y

   ►   FilmOla.com, Finland-based online marketplace for film and tv shows, acquired by Fearless Films,
       Inc., a Canadian film production company
       https://prn.to/2Bo9G3M

   ►   Joliv, Sweden-based healthcare software provider, acquired by Netherlands-based Main Capital
       Partners which will merge the company with Alfa to form a leading SaaS player in the Swedish
       care market
       https://bit.ly/2ANLxUx

   ►   Appva AB, Sweden-based provider of mobile and digital signature app for medication tracking,
       acquired by Vitec Software Group, to strengthen its Nordic position in Vertical Market Software
       https://cisn.co/2zOtAV4

Growth capital
   ►   Acast, Sweden-based podcast company, raises 50 EURm in equity from Alfvén & Didrikson, Moor
       Capital, Bonnier Ventures, Första AP Fonden, Swedbank Robur and credit from European
       Investment Bank
       https://bit.ly/2Ctd9i5

   ►   Swappie, Finland-based operator of online marketplace for refurbished smartphone, raises 35,8
       EURm in Series B from TESI, and existing investors Lifeline Ventures, Reaktor Ventures, and
       Inventure
       https://bit.ly/2NiRoDW

   ►   Unity Studios, Denmark-based VR development studio, raises 15 to 20 DKKm from Vækstfonden
       and North-East Venture
       https://bit.ly/3hIdoWJ

   ►   Stillfront Group, Sweden-based video game developer with 14 studios and 50 games, raises 113
       EURm in a directed shared issue to Swedish and international investors
       https://bit.ly/2Yj2KOs

   ►   Billogram, Sweden-based FinTech company providing intelligent invoicing services, raises 4,8
       USDm from CNI, Inbox Capital and Rutger Arnhult
       https://bit.ly/2NeLX8X

                                                                                                  13 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 24 (08 june – 14 june)

Growth capital
   ►   Foreseeti, Sweden-based provider Automated Threat Modeling and Attack Simulation solutions,
       raises 30 SEKm in investment round led by Fairpoint Capital and private investors
       https://bit.ly/3e1pPuh

   ►   PantaPå, Sweden-based mobile solution developer for recycle packaging, raises 9,5 SEKm in
       investment round led by Orkla Ventures and Verdane Capital
       https://bit.ly/3hqF1mU

   ►   Trustly, Sweden-based provider of online bank payment solutions, receive undisclosed investment
       from BlackRock
       https://tcrn.ch/3d3Ugih

   ►   Capturi, Denmark-based sales process optimization software, raises 11,6 DKKm in investment
       round led by Vækstfonden, key employees and private investors
       https://bit.ly/2C1CWxr

   ►   Kahoot!, Norway-based edtech company, raises 28 USDm in new equity via private placement of
       7,5 million shares
       https://bit.ly/2XYjM46

   ►   Attractive.ai, Finland-based automated UX analytics tool, raises 1 USDm in seed round led by
       Helsinki’s Superhero Capital and private investors Tue Lumbye, Jaako Salminen, Tatsuro Shimada
       and Keisuke Honda
       https://bit.ly/2UH3FGj

   ►   IQM Finland, Finland-based quantum computer provider, raises 20 EURm in grants and equity
       investment from EIC Accelerator and Business Finland
       https://bit.ly/30HadIP

                                                                                               14 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 23 (01 june – 07 june)

Acquisitions, mergers and divestitures
   ►   Trapets, Sweden-based provider of services and systems for securities trading, anti-money
       laundering surveillance and compliance, sells majority stake to Monterro, a Swedish private equity
       firm
       https://bit.ly/2A3JfjH

   ►   Hano AS, leading Norwegian-based provider of IT solutions to the health and wellness industry,
       acquired by FP-backed EG, Denmark-based Nordic leading software provider
       https://bit.ly/37e2jri

   ►   Darkfire Games, Denmark-based mobile games studio, acquired by Rovio Entertainment, the
       Finnish game developer of Angry Birds
       https://bit.ly/30s8SoO

   ►   Suomen Konehuone Oy, Finland-based datacenter modernization advisor, acquired by Norvestor-
       backed NetNordic, Norway-based system integrator in all of Nordics
       https://bit.ly/2AdZNp5

   ►   Oulun DataCenter, Finland-based leading provider of cloud services in Northern Finland, acquired
       by VIA Equity-backed GleSYS AB, Sweden-based IaaS and ISP provider in Europe
       https://bit.ly/3dHSh4s

   ►   Lendysoft, Sweden-based developer of lending technology, sells peer-to-peer and balance sheet
       lending software to Bricknode, Sweden-based cloud-based SaaS platform looking to expand its
       lending-as-a-service capabilities
       https://bit.ly/2BEZ2Wo

Growth capital
   ►   Debricked, Swedish Cybersecurity startup, raises 18 SEKm from Luminar Ventures, Brightly
       Ventures and previous investors, to launch their SaaS internationally
       https://bit.ly/37g8Ul9

   ►   Tink, Sweden-based open banking platform, receives second investment from PayPal Ventures
       (amount undisclosed)
       https://bit.ly/2zeWxJz

   ►   Scrive, Sweden-based provider of electronic signature and identity solutions to all of Europe,
       receives undisclosed investment from Vitruvian Partners to accelerate its expansion across
       Nordics and Europe
       https://bit.ly/3h5tLMt

   ►   Iiwari, Finland-based startup developing indoor positioning technology, receives 1.5 EURm seed
       investment from Voima Ventures, a Nordic deep tech venture capitalist
       https://bit.ly/2MHFUJA

   ►   Good Monday, Denmark-based developer of workspace management platform, raises 4 USDm in
       investment round led by firstminute Capital and existing investors Creandum, Seed Capital, and
       PreSeed Ventures, in order to expand to London and develop its platform
       https://bit.ly/2XHfIVO

                                                                                                   15 | 34

Nordic M&A Tech Refresh

 ►   Shopbox, Denmark-based mobile-based PoS system, raises DKK two-digit investment from newly
     started fintech investment company Acorn
     https://bit.ly/2AN2P3y

                                                                                          16 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 22 (25 may – 31 may)

Acquisitions, mergers and divestitures
   ►   Hiotlabs, Sweden-based IoT sensor platform for insurers, acquired by Polygon, US-based global
       provider of property damage services
       https://bit.ly/2TXayTy

Growth capital
   ►   Doktor.se, Sweden-based e-health startup offering digital consultations, raises 45 EURm in Series
       C led by Carnegie and Handelsbanken
       https://bit.ly/36Q7AFv

   ►   Safe Online, Denmark-based data security SaaS, raises 11,5 DKKm in capital investment round led
       by angel investors including Henrik Kähler and Gregers Kronborg
       https://bit.ly/2BoT2RB

   ►   Wired Relations, Denmark-based privacy and security SaaS platform, raises 5 DKKm from angels
       investors including Erik Stannow, Kenneth Nielsen and Claus Klein-Ipsen
       https://bit.ly/2XOCU3f

   ►   Meniga, Iceland/London-based digital banking fintech startup, raises 8,5 EURm from Groupe
       BPCE, Groupo Crédito Agrícola, and UniCredit, Velocity Capital, Industrifonden, and Frumtak
       Ventures
       https://bit.ly/3gDjUNX

   ►   Radiobotics, Denmark-based healthtech startup for AI radiology, raises 10 DKKm from EIC
       Accelerator
       https://bit.ly/301TJKP

   ►   Podimo, Denmark-based podcast curation platform, raises 15 EURm in round led by 83North,
       Heartcore and e.ventures who also participated in the startup’s seed round in July 2019
       https://bit.ly/2U1BDEZ

                                                                                                 17 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 21 (18 may – 24 may)

Acquisitions, mergers and divestitures
   ►   TrueLink A/S, Denmark-based collaboration platform for e-procurement, acquired by Viking
       Venture-backed Mercell International, Norway-based leading platform for public e-tendering, as its
       fifth target within the last 12 months
       https://bit.ly/2WYeZzj

   ►   Napp, Denmark-based B2B sales enablement platform, acquired by Templafy, Denmark/NYC-
       based global leader in enterprise documentation creation and automation
       https://bit.ly/2ZxlGtL

   ►   Staria Oyj, Finland-based international provider of information systems and accounting services,
       acquired by Finnish private equity investor Vaaka Partners, to accelerate its international growth
       plan
       https://bit.ly/3eiHOfM

   ►   AddSecure, Sweden-based provider of premium solutions for secure data and critical
       communications, acquires London-based Connexas Group, provider of fleet management and
       telematics solutions, from Horizon Capital LLP
       https://bit.ly/2zhvgq8

   ►   Kaiku Health, Finland-based provider intelligent patient-monitoring software, acquired by Elekta,
       Sweden-based global provider of precision radiation medicine
       https://bit.ly/2LXfnHP

Growth capital
   ►   PocketLaw, Sweden-based startup providing digital legal services, secures angel investment round
       of 10 SEKm
       https://bit.ly/3gfdgNL

   ►   Happeo, Finland-based enterprise social intranet, raises 12 USDm in Series A led by INKEF Capital,
       and previous investors DN Capital, Maki.vc, and Vendep Capital, in order to expand internationally
       https://bit.ly/2zqVwyc

   ►   CathVision, Denmark-based developer of AI therapeutics platform for cardiac electrophysiology
       procedures, raises 13 EURm
       https://prn.to/3eeVsQL

   ►   Boost AI, Norwegian-based chatbot company, secures runaway in bridge round led by Alliance
       Ventures, who previously invested 40 USDm, and other undisclosed investors
       https://bit.ly/2XsAk2K

   ►   LuggageHero, Denmark-based leading Traveltech startup operating a luggage-storage network,
       raises 0,4 EURm from crowd-sourcing platform Seedrs
       https://bit.ly/3bZbTiD

                                                                                                   18 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 20 (11 may – 17 may)

Acquisitions, mergers and divestitures
   ►   Cryptera, Denmark-based international payment and security provider, acquired by Danish private
       investor Nils Smith from previous American owner, Diebold Nixdorf
       https://bit.ly/3fZk81g

   ►   Lefdal Mine Datacenter AS, Norwegian green data center operator, sells 66,67% stake to Columbia
       Management Investment Advisers LLC through Columbia Threadneedle European Sustainable
       Infrastructure fund
       https://bit.ly/2Td0fdw

   ►   Valitor, Iceland-based payment solutions provider, sells Danish operations to Christian
       Rasmussen, co-founder of AltaPay which was previously sold to Valitor in 2014
       https://bit.ly/3byhmNi

   ►   Hg-backed Visma, Norway-based provider of business software and services, acquires Nmbrs,
       Netherlands-based provider of HR and payroll software, as part of their previously announced
       Netherlands-focused M&A strategy
       https://bit.ly/3fZIvfl

   ►   Plint, Sweden-based language and media technology company, sells 55% stake to Swedish private
       equity fund Priveq
       https://bit.ly/2WZFoLQ

   ►   Hg-backed Visma, Norway-based provider of business software and services, acquires Zetech,
       Argentina-based leading provider of digital signature and document management solutions in
       Latin America, in order to strengthen its offering of HR cloud solutions
       https://bit.ly/3bzHZ4h

Growth capital
   ►   Wolt, Finland-based food delivery scale-up, raises 100 EURm from ICONIQ Capital, Highland
       Europe, 83North, EQT Ventures, and Goldman Sachs’ Growth Equity unit, in order to safeguard
       against COVID-19 uncertainty
       https://bit.ly/3fVR5M5

   ►   BLAST, Denmark and London-based esports entertainment startup, raises 12,5 EURm from Johan
       Gedda, Vækstfonden, Creandum, Heartcore, and Maki.vc, in order to scale and evolve the
       company
       https://bit.ly/2Ten6Fv

   ►   Omocom, Swedish insurance tech startup, raises 3,7 EURm from Mustard Seed MAZE, Alma Mundi
       Insurtech Fund, Luminar and some angels, in order to provide insurance products for circular
       economy-based products
       https://bit.ly/3bDzo0F

   ►   Anyfin, Sweden-based digital lender for loan refinancing, raises 30 USDm in Series B led by EQT
       Ventures, with support from prior investors Accel, Northzone and Global Founders Capital, in
       order to expand from Sweden and Finland into new European markets
       https://bit.ly/2z4qPia

                                                                                                 19 | 34

Nordic M&A Tech Refresh

   ►   Lysa, Sweden-based automated investment service for asset management, raises 6 USDm from
       existing investors Ernström & Co and Inbox Capital
       https://bit.ly/2Zfejab

   ►   Leetify, Sweden-based AI coaching platform for gamers, raises 0,9 EURm from Inventure, J12
       Ventures, Futuristic.vc and others
       https://bit.ly/2LCRzJj

   ►   Apotherm, Swedish online drugstore, raises 20 SEKm from existing investors Novax and Axfood’s
       logistics company Dagab
       https://bit.ly/2LGhpff

New funds
   ►   Bocap, Finland-based investment company, launches its 3rd PE growth fund at 50 EURm targeting
       Finnish entrepreneur-lead high-growth SME’s with sales between 4 and 50 EURm
       https://bit.ly/2TaFTli

                                                                                              20 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 19 (04 may – 10 may)

Acquisitions, mergers and divestitures
   ►   Sinch, Swedish cloud computing services provider, acquires SAP Digital Interconnect, a unit of
       SAP SE for 225 EURm, to increase its presence in the United States
       https://reut.rs/2WJOFaG

   ►   RoosGruppen AB, owned by Swedish tech billionaire Häkan Roos, acquires 33% majority stake in
       Synergy Sky AS, Norwegian-made business meeting software, to accelerate its expansion to
       international markets
       https://bit.ly/2WJOA6S

   ►   Verdane Capital-backed Wrap Software, Sweden-based world-leading software technology for
       spectrum management and radio network planning, acquired by Altair, a global technology
       company
       https://bit.ly/2A9Nolz

   ►   Klarna, Swedish payment services company, acquires Nuji, a UK-based e-retail platform
       https://bit.ly/2YQh7dS

   ►   ExproSoft, Norway-based global leader in software solutions for the oil and gas industry, acquired
       by Peloton, Canada-based global leader in oil well integrity management, data modelling and
       simulation
       https://prn.to/2xO7T6A

Growth capital
   ►   Penneo, Danish provider of digital signature software, upsizes IPO to 50 DKK, to list on Nasdaq
       First North on 2 June 2020
       https://cisn.co/3dCY7nj

   ►   Dazzle Rocks, Finnish developer of a mobile-first scalable MMO game, raises 6,8 USDm in capital
       investment round led by Galaxy EOS VC Fund, Spintop Ventures, ByFounders, MTG, Sisu Game
       Ventures and private investors Ken Lamb and David Helgason
       https://bit.ly/3bdmfLy

   ►   Maitres, Swedish developer of mobile payment app for dine-in restaurants, raises 12 SEKm from
       existing investor Spinnaker Ventures and angel investors
       https://bit.ly/2yyZi8r

   ►   Relion, Danish startup developing a online scheduling tool, raises capital from serial entrepreneur
       Werner Storm Valeur and Vækstfonden
       https://bit.ly/2Li2qbg

                                                                                                   21 | 34

Nordic M&A Tech Refresh

New funds
   ►   Vækstfonden, the Danish state-backed financing fund, to help Danish entrepreneurs and venture
       companies amid Covid-19 with 3.400 DKKm through 4 new financing products
       https://bit.ly/2WkxxJN

   ►   OMERS launches 750 USDm venture capital fund to back early-stage technology companies – 40%
       of funds set to be invested in European tech companies
       https://bit.ly/35LdZkR

   ►   Runa Capital launches its third venture capital fund at 157 USDm, targeted deep-tech early-stage
       companies seeking Series A funding. Funds could land in Northern Europe through its European
       offices
       https://tcrn.ch/2YPCiMQ

   ►   Verso Capital launches new 100 EURm sector agnostic fund for carve-outs, joint venture
       rearrangements and acquisition acceleration. The fund focuses on investments in Nordics,
       Northern-Europe, and DACH markets
       https://bit.ly/2A7zLDs

Playbook
   ►   NNIT, Danish provider of IT services for life sciences and other regulated industries, ready for
       acquisitions amid Covid-19 with dry powder of more than 1.000 DKKm
       https://bit.ly/2znpGC4

                                                                                                     22 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 18 (27 apr – 03 may)

Acquisitions, mergers and divestitures
   ►   Goodbye Kansas, Swedish computer game developer, acquired from THQ Nordic by Bublar Group,
       Swedish virtual reality gaming company
       https://cisn.co/2YsKGlm

Growth capital
   ►   Templafy, Danish global leader in enterprise document creation and automation, raises 25 USDm
       in Series C led by Insight Partners
       https://prn.to/2WqqwWs

   ►   Platypus, Danish HR tech startup to boost employee retention through cultural alignment, raises
       2,5 USDm in a capital investment round led by Mustard Seed MAZE, Vækstfonden, Inventure,
       Preseed Ventures, SpeedInvest, Nordic Web Ventures, and various angels
       https://bit.ly/3femTLP

   ►   AppGyver, Finnish startup developing a visual drag-and-drop enterprise programming tool, raises
       2 EURm in a capital investment round led by Karma Ventures, OpenOcean, and various angels
       https://bit.ly/2YsToQH

   ►   Strise, Norwegian AI startup developing a data platform for enterprise financial institutions, raises
       1,4 EURm in seed funding by Maki.vc, Tim Bolte, and existing angels
       https://bit.ly/3bZHJg7

   ►   Logmore, Finnish datalogging pioneer, raises 4,5 EURm in Series A led by NordicNinja,
       Icebreaker.VC, Trind Ventures, Trekton Ventures, and Jaakkoo-Taara
       https://bit.ly/3fddRyN

New funds
   ►   Icebreaker.VC, Finnish pre-seed venture fund, announces its second fund at 50 EURm targeted at
       tech companies with deep domain expertise
       https://bit.ly/2VXOMQF

Playbook
   ►   Enea, Swedish provider of cloud-native software for telecoms, continues to seek acquisitions to
       strengthen its market position and long-term earning capacity
       https://bit.ly/3bXTHXu

                                                                                                     23 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 17 (20 apr – 26 apr)

Acquisitions, mergers and divestitures
   ►   ProActive A/S, Danish digital workplace and managed cloud service provider, acquired by FSN
       Capital Partners-backed Fellowmind, an international Netherlands-based Microsoft solutions
       provider
       https://bit.ly/358BDYb

   ►   Conscriptor AB and Max Manus Group acquired and merged by Verdane to form a 23 EURm Nordic
       HealthTech group specialized in technologically-driven transcription services and speech
       recognition
       https://bit.ly/2x9GkV7

   ►   Amesto Consulting, Norwegian provider of IT consultants, acquired by Prodata Consult, Nordic
       leader in the space
       https://bit.ly/2Y62gvj

   ►   NextIOT, Danish provider of end-to-end IoT Solutions for machine builders, acquired by New York-
       based ei3 to expand its presence in Europe
       https://bit.ly/3cPmRYO

   ►   Korta, Icelandic payment service software and hardware supplier, acquired from Kvika by Rapyd, a
       UK-based mobile payment company
       https://bit.ly/2x9GmfH

   ►   LJ System, Swedish provider of church and preschool-related administration software, acquired
       by Vitec
       https://cisn.co/2Y4JpAH

   ►   Stilfront Group, Swedish games holding company, acquires Candywriter, a US-based mobile game
       developer and publisher
       https://bit.ly/2yNCYaU

Growth capital
   ►   Lendify, Swedish provider of consumer loans, raise 148 SEKm through a new share issue, at a pre-
       money valuation of 1500 SEKm
       https://cisn.co/2VF5Qe4

   ►   Capdesk, Danish London-based equity management platform, raises 25 DKKm in Series A led by
       Fuel Ventures and various family offices
       https://bit.ly/2VEWIpY

   ►   DbVis, Swedish provider of database management software, raises 5,3 EURm in capital
       investment round led by Industrifonden and Fairpoint Capital
       https://bit.ly/3bFBkX9

   ►   Reworks, Finnish mobile game studio, raises 4 EURm in capital investment round led by EQT
       Ventures, with support from Play Ventures and private investor Anton Gauffin
       https://bit.ly/2VEWJdw

                                                                                                24 | 34

Nordic M&A Tech Refresh

 ►   Nordic API Gateway, Danish open banking platform, raises 4,6 EURm in internal funding round led
     by its partners Danske Band and DNB, to kickstart European expansion
     https://bit.ly/2yND02w

 ►   Bokio, Swedish AI-powered accounting tool for SME’s and freelancers, has raised 7,4 EURm in
     internal funding round from Creandum, Svea Ekonomi, business angels, and founders, and merges
     with Swedish competitor Red Flag
     https://bit.ly/3aEbrpl

 ►   Shoreline, Norwegian wind SaaS simulation and workflow management platform, raises 4 USDm in
     Series A led by Ingenious, with participation from existing investors Blue Bear Capital, Alliance
     Venture and Investinor
     https://bit.ly/2KALJYm

 ►   Bookis, Norwegian marketplace for used books, raises 12 NOKm from Schibsted Growth
     https://bit.ly/2Y7HNpS

 ►   Tractr, Finnish startup developing a software solution for real estate, raises 1,9 EURm in capital
     investment round led by Lifeline Ventures, with participation from existing investors Halton and
     Reaktor Ventures
     https://bit.ly/357VmqW

                                                                                                  25 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 16 (13 apr – 19 apr)

Acquisitions, mergers and divestitures
   ►   SuperOffice, Norwegian SaaS CRM provider, acquired by Axcel
       https://bit.ly/34Tz38f

   ►   Nitro Games, Finnish game developer, sells share majority to Nordisk Film for 45 SEKm
       https://bit.ly/2wR7Fv9

   ►   Siili Solutions, Finnish software company, to sell its minority stake in RoboCorp, Finnish robotics
       software house, to Benchmark Capital, Slow Venture, and Firstminute Capital
       https://bit.ly/2XTTNLs

   ►   Cyber Security 1 AB, Swedish cybersecurity company, hands back Greek and Turkish businesses
       to Itway S.p.A after unsuccessful acquisition in late 2018. Itway to re-sell activities to Cognosec
       https://reut.rs/3ap6Qal

   ►   Marlin-backed Puzzel, Norwegian provider of cloud-based contract centre solutions, acquires
       U-WFM, UK-based workforce management and optimization software provider
       https://bit.ly/2KiPpxC

   ►   Cloud Explorers, Norwegian big data management platform for analytics, acquired by
       SpectrumOne, Swedish sales- and communication-improvement platform for marketers
       https://cisn.co/2KiH79e

Growth capital
   ►   Dirac, Swedish audio tech firm, raises 60 SEKm from Inbox Capital AB, Swedia Capital, and DIG
       Investment
       https://bit.ly/2ysrcSO

   ►   Superplus Games, Finnish startup developing mobile games, completes 4,7 USDm capital
       investment round led by Makers Fund, Sisu Games Ventures, and Business Finland
       https://bit.ly/3cy9I6z

   ►   Virta, Finnish electric vehicle charging platform, announces an undisclosed investment agreement
       with JXTG, a Japan-based oil company
       https://bit.ly/2VF5cft

   ►   Tyme Wear, Icelandic startup developing tech-driven wearables for sports, announces 200 ISKm
       capital investment led by New Business Venture Fund / Nýsköpunarsjóður
       https://bit.ly/3blGQ17

                                                                                                     26 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 15 (06 apr – 12 apr)

Acquisitions, mergers and divestitures
   ►   Specter AB, Swedish provider of cloud-based ERP and e-commerce solutions for SMBs, acquired
       by Visma
       https://bit.ly/3aYlqXA

   ►   Futunio Oy, Finnish provider of software services to trade union and unemployment funds,
       acquired by Total Specific Solutions (TTS) a subsidiary of Constellation Software Inc
       https://bit.ly/34tpnBf

   ►   Suomen Hostingpalvelu, Finnish provider of hosting services, acquired by Loopia Group, Swedish
       internet services supplier
       https://bit.ly/2ybhuEd

   ►   Stockholm Internet eXchange, Swedish provider of interconnections between internet service
       providers, acquired by GleSYS backed by VIA Equity, a Swedish hosting company
       https://bit.ly/3ehXyjC

   ►   Zoopit, Norwegian provider of logistical solutions, sells founder shares to logistical subsidiary of
       media giant Schibsted, who now owns 75% of the company
       https://bit.ly/2JVLsyH

Growth capital
   ►   QuietOn, Finnish startup for noise-cancelling earbuds, raises 4,5 EURm in Series A led by Business
       Finland and other business angel investors
       https://bit.ly/3eenhtf

   ►   OGOship, Finnish e-commerce logistics services company, raises 1,5 EURm in investment round
       led by MAKI VC
       https://bit.ly/2yTUpXe

   ►   Mindler, Swedish mental health platform, raises 85 SEKm in Series A led by Ventech and Schibsted
       Growth
       https://bit.ly/2K0BmN3

   ►   Instabox, Swedish e-commerce logistics tech company, raises 36 EURm by CREADES and CORDET,
       at a 100 EURm valuation
       https://bit.ly/2yUFvQv

   ►   Tipio, Norwegian consumer-driven marketplace for group purchases, raises 2,5 NOKm via equity
       crowdfunding campaign on Folkeinvest
       https://bit.ly/34s042u

   ►   Kreditz, Swedish credit score platform, raises 19 SEKm in capital investment round led by Segulah
       Venture, Salénia, Pamir Invest and angel investors
       https://bit.ly/2VlgTbc

                                                                                                      27 | 34

Nordic M&A Tech Refresh

   ►   Nordetect, Danish producer of hardware and data management systems for precision agriculture,
       has completed its capital investment round led by SOSV, Rockstart, PreSeed Ventures, and
       Luminate Venture Corp
       https://bit.ly/2yOvEeU

   ►   ClimateView, Swedish developer of software platform for environmental-related data, raises 2,3
       EURm in capital investment round led by Norrsken Foundation, Nordic Makers, Max Ventures, and
       CGV Capital
       https://bit.ly/2XtBGMd

   ►   Cellink, Swedish 3D bioprinting company, to start trading on NASDAQ’s main list as of April 20,
       2020
       https://bit.ly/3c9GudW

New funds
   ►   Index Ventures announces 2 USDbn in new funds for early-stage and growth investments, some of
       which could go to Nordics
       https://bit.ly/2xfrMDw

   ►   Blossom Capital launches angel investment and mentorship network for early-stage startups
       across Europe
       https://bit.ly/2yWTx4h

                                                                                                  28 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 14 (30 mar – 05 apr)

Acquisitions, mergers and divestitures
   ►   Alfa Kommun & Landsting AB and Safe Care Svenska AB, Swedish eHealth software group, sells
       majority stake to Main Capital Partners
       https://bit.ly/2x3Lt0P

   ►   Tink, Swedish open banking platform, acquires Madrid-based account aggregation provider,
       Eurobits Technologies
       https://bit.ly/3dVP29Q

   ►   PDSVISION, Swedish provider of digital transformation software solutions and services, to sell
       majority stake to CapMan. PDSVISION to engage in organic and inorganic growth going forward
       https://bit.ly/2xPFE7n

   ►   Cinven-backed, One.com, Danish web hosting service provider, to acquire Amsterdam-based
       Hostnet BV
       https://bit.ly/2xNHANy

   ►   Bruce, Swedish subscription service for fitness studios, acquires Norwegian competitor Combine
       https://bit.ly/3aL90Cq

   ►   Pixerymedia, Swedish creator of digital real estate software solutions, sells majority stake to
       Wellstreet
       https://bit.ly/349CDLd

   ►   Rentmate, Icelandic rental platform, acquired by Dutch competitor HousingAnywhere
       https://bit.ly/3aIqC1O

   ►   Draftit, Swedish Legaltech company, sells majority stake to Visma, Norwegian software
       conglomerate
       https://bit.ly/2x7zZt4

   ►   Nordic Capital-backed, Signicat, Norwegian provider of a digital identity platform, acquires
       Netherland-based competitor Connectis
       https://bit.ly/3c4fEUH

                                                                                                      29 | 34

Nordic M&A Tech Refresh

Growth capital
   ►   Lunar, Danish digital provider of financial services, receives 20 EURm funding in Series B led by
       SEED Capital, Greyhound, Socii, and Chr. Augustinus Fabrikker
       https://bit.ly/2X8S2da

   ►   Indó, Icelandic local ‘bank challenger’ completes 1 EURm seed funding over three rounds since
       2018
       https://bit.ly/2V2hKxk

   ►   PodMe, Swedish podcast platform, receives 21 SEKm investment from Schibsted and Gorilla
       Capital
       https://bit.ly/39KzXEW

   ►   Hack Your Closet, Swedish circular subscription service for clothes, raises 4,2 SEKm in funding
       round led by Luminar Ventures, DHS and angel investors
       https://bit.ly/2K0yIa5

Playbook
   ►   Telavox, Swedish communication platform developer, looking for further acquisition in new and
       existing markets
       https://bit.ly/2RcNdM9

   ►   C2IT, Danish provider of ERP solutions and IT services, to look for additional acquisitions following
       COVID-19
       https://bit.ly/2UJvRsn

   ►   Report from Startup Genome estimates a 28 USDm reduction in global startup investments for
       2020 due to COVID-19
       https://bit.ly/2Reimi9

   ►   DXC to close hardware business of its EG A/S Service Business acquisition in 2019
       https://bit.ly/39HuHSA

                                                                                                     30 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 13 (23 mar – 29 mar)

Acquisitions, mergers and divestitures
   ►   Aksess Innkjøp, Norwegian provider of e-tendering platform, acquired by PE Viking Venture-
       backed Mercell
       https://bit.ly/3athEW3

   ►   Grazper, Danish AI-driven 3D visualization, acquired by Yokogawa, a Japanese industrial
       automation conglomerate
       https://bit.ly/2wD2ChQ

   ►   Queue-it, Danish provider of virtual waiting room services, sells 75% stake to Gro Capital
       https://bit.ly/3bzXBoV

Growth capital
   ►   Humio, Danish London-based time-series logging and aggregation platform, receives 138 DKKm
       investment from Accel and Dell Technologies Capital
       https://bit.ly/2Jpa3vO

   ►   Cognibotics, Swedish developer of precision improvement robotics software, receives 40 SEKm in
       Series A by Tibia and Fairpoint Capital
       https://bit.ly/2UJM1Rl

   ►   Nextory, Swedish audiobook and e-book subscription service, receives 60 SEKm from existing
       investors Industrifonden, LK Finans AB, ACACIA, and Frescano Group
       https://bit.ly/3dExkYw

   ►   Ingrid, Swedish SaaS solution for e-commerce shipping providers, receives 12,3 SEKm investment
       from Blq Invest
       https://bit.ly/3dx0YyR

   ►   Ingenium Golf, Danish golf club digitalization platform, receives 3,1 DKKm investment
       https://bit.ly/2yiAGAb

   ►   CollectiveCrunch, Finnish-German provider of AI-driven forestry platform, receives 500 EURm
       investment from European Space Agency (ESA)
       https://bit.ly/2QRXmxJ

   ►   NewBanking Identity, Danish develop of identify platform, receives 1,7 EURm funding from
       Vækstfonden and Scale Capital
       https://bit.ly/2RaYYTc

                                                                                                    31 | 34

Nordic M&A Tech Refresh

New funds
   ►   Skagerak Maturo, Norwegian early-stage VC firm, to invest 500 NOKm in tech companies
       following current COVID-19 crisis through its fifth fund
       https://bit.ly/3arqLXl

   ►   Skyfall Ventures, Norwegian early-stage VC firm, to invest 50 NOKm for its first venture fund
       https://bit.ly/3asSbfk

   ►   Almi, Swedish state-owned business development and investment firm, receives 3.000 SEKm in
       additional funds to support startups and SME’s
       https://bit.ly/3bAOG6M

Playbook
   ►   VC firms, Creandum, EQT Ventrues and Northzone to continue investments amidst COVID-19
       https://bit.ly/3at9wVk

   ►   HG-backed IT Relation, Danish IT-infrastructure outsourcing service provider, to continue its
       organic and inorganic growth plans after 12 successful acquisitions
       https://bit.ly/3bwzxTS

   ►   Gro Capital looking for more tech acquisitions following COVID-19
       https://bit.ly/2wJ2Fsc

                                                                                                   32 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 12 (16 mar – 22 mar)

Acquisitions, mergers and divestitures
   ►   Holte, Norwegian construction software company, acquired by Danish software conglomerate EG
       A/S
       https://bit.ly/2Qzyrik

   ►   Hubso AB, Swedish influencer branding platform, acquired by Orgo Tech AB for 6,9 EURm
       https://reut.rs/2wuCBkr

   ►   Teston AS, Norwegian provider of user testing software, acquired by UserTesting Inc.
       https://bit.ly/397ZEif

   ►   ALMA Consulting Oy, Finnish developer of information management software, acquired by Vitec
       Software Group AB
       https://cisn.co/3aeulUC

Growth capital
   ►   Oura, Finnish developer of health and sleep tracking ring, raises 28 USDm in Series B from
       Gradient Ventures, Square and Forerunner Ventures
       https://tcrn.ch/39erYQa

   ►   Bilot, SAP and Microsoft enterprise applications and software solutions developer, starts trading
       on Nasdaq First North Growth Market Finland
       https://bit.ly/2vKv94y

   ►   Mainframe Industries, a pan-Nordic gaming studio, raises 7,6 EURm in Series A for cloud-native
       MMO
       https://bit.ly/33EVduw

   ►   Kundo, Swedish developer of digital customer service software, receives 50 SEKm investment
       from Standout Capital
       https://bit.ly/2xf6qWj

   ►   Papirfly, Norwegian provider of Brand Activation Management software, has partnered with
       Standout Capital for a 33% stake, to leverage Norwegian, Danish and UK markets and accelerate
       international expansion
       https://bit.ly/2y0hfMo

Playbook
   ►   EG A/S, Danish software conglomerate, to build new division for software solutions after their
       acquisition of Holte and CalWin
       https://bit.ly/2xiqBT8

                                                                                                    33 | 34

Nordic M&A Tech Refresh

Selected deals: 2020 Week 11 (9 mar – 15 mar)

Acquisitions, mergers and divestitures
   ►   Inspari A/S, a Danish Business Intelligence firm, has been partly acquired by Blue Equity
       https://bit.ly/3dl370q

   ►   Tocoman, provider of accounting software for construction, acquired by Admincom Finland Oy for
       EUR 10m
       https://bit.ly/2QDiWpn

   ►   Framsikt AS, Norwegian provider of web-based products for municipalities, acquired by Visma
       https://bit.ly/3apJrGU

   ►   Shibuya Crossing, Swedish data center expert, has merged with Pulsen, Swedish IT operation
       company, to form a leading company for business-critical IT solutions
       https://bit.ly/3a6DIpb

Growth capital
   ►   Fuzu, Finnish career platform, raises 3,4 EURm in a Series A funding round led by Sparkmind.vc
       https://bit.ly/2Ualz4f

   ►   Haltian, Finnish IoT product development company, raises 9 EURm by Inventure, Ilmarinen, Nordic
       Option and a group of private investors through investment service SijoittajaPRO, including Head
       Invest
       https://cisn.co/33DoZ2t

   ►   Aibidia, Helsinki-based transfer pricing platform, raises 4,2 EURm to help companies digitalize
       international tax
       https://bit.ly/3bjksVK

   ►   Brandpad, Oslo-based cloud-based platform for managing brand portfolios, raise 0,3 EURm to help
       companies boost their brands
       https://bit.ly/2QD4r4T

New funds
   ►   Sparkmind.vc, Helsinki-based VC, is launching a EUR 40m Edtech fund focused on Northern
       Europe
       https://bit.ly/2Ualz4f

Playbook
   ►   Polaris Private Equity-backed ProData Consult are looking for new acquisitions after a strong
       2019
       https://bit.ly/3dlzxrx

   ►   HiQ, the progressive Swedish-based digital transformation company, are looking to complement
       organic growth through Nordic acquisitions
       https://cisn.co/39cf45l

                                                                                                   34 | 34