Kahoot

History

2023: Goldman Sachs acquires Kahoot

On July 14, 2023, a consortium of investors led by Goldman Sachs Group announced the conclusion of an agreement to acquire the Norwegian online learning platform Kahoot. The transaction amount is NOK 17.2 billion (approximately $1.71 billion at the exchange rate as of July 19, 2023).

The Kahoot system offers the ability to learn in a game format. The platform provides thematic quizzes with multiple choices. The service can be used to test students' knowledge or as an addition to traditional classroom classes. The platform is available through a browser and mobile application. Kahoot's popularity has grown sharply amid the organization of distance learning amid the COVID-19 pandemic.

Goldman Sachs announces agreement to acquire Norwegian online learning platform Kahoot

The takeover deal Kahoot leads Goldman Sachs Assets Management's private equity unit. The agreement also involves General Atlantic (Kahoot's largest shareholder), Kirkbi Invest A/S (part of Lego Group), Glitrafjord (controlled by Kahoot CEO Eulert Hanoa) and a number of other unnamed investors. The transaction is planned to be carried out entirely at the expense of 35 NOK (about $3.47) per security. This represents a 53.1 per cent premium to the closing price on the Oslo Stock Exchange on 22 May 2023 (when the value was NOK 22.86).

According to Kahoot, by mid-2023, hundreds of millions of training sessions were held on the platform with 9 billion (non-unique) participants in more than 200 countries and regions around the world. In addition, the service has more than 1 million paid users. The deal is supposed to help Kahoot strengthen its position amid a changing market environment and amid macroeconomic challenges.^[1]

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