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Learning and testing company Kahoot buys language learning company Drops for $ 31 million, which is equivalent to just over 279 million kronor, according to a company statement on Tuesday.
Additionally, Drops will receive an additional $ 19 million if the company reaches profit targets in 2020, 2021 and 2022, the company reports.
Kahoot has experienced very rapid growth. For example, it has not been more than two months since the company bought the Danish technology platform Actimo for up to NOK 300 million, and next year the company wants to be included in the main list of the Oslo Stock Exchange. They are currently on Mercury Market’s small list.
“We are pleased to welcome Drops to the expanding Kahoot family as we move forward to become the world’s leading learning platform,” writes CEO Eilert Hanoa in the announcement.
He notes that the company will continue to expand and grow in new areas to make Kahoot an ever-larger learning platform.
The transaction is expected to be completed during November. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content can only be done with written permission or as permitted by law. For more terms, see here.
