Euronext: acquires Norwegian SaaS company Admincontrol
(CercleFinance.com) - Euronext announced on Thursday that it had reached a definitive agreement to acquire Norway's Admincontrol for E398m, a deal that will enable it to strengthen its software-as-a-service (SaaS) offering.
The stock exchange operator points out that this acquisition is part of its 'Innovate for Growth 2027' strategic plan, which aims to increase its presence in SaaS and subscription-based businesses.
Founded in 2005 in Oslo, Admincontrol offers governance and collaboration solutions to over 4,000 clients, and is used by a total of about 200,000 employees.
Thanks to double-digit growth over the past five years, the company posted sales of 39 million euros last year, with an Ebitda of E17m, representing an operating margin of 44%.
Euronext explains that the acquisition will enable it to increase its presence in the Nordic countries and the UK.
The transaction, which will be financed from available cash, is expected to be completed in Q2.
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