AKKA Launches a Recommended Voluntary Cash Offer on Data Respons ASA at NOK 48 Per Share
BACKGROUND TO THE OFFERAKKA has been developing its digital solutions portfolio organically and through several targeted acquisitions over the past years, particularly in the mobility sector (Auronik, Erlkönig, Gigatronik);Through the contemplated acquisition of Data Respons, AKKA continues to structure and reinforce its digital expertise; The transaction will create Europe's largest digital solutions powerhouse able to address the high-volume and fast-paced growth in the digital market, driven by disruption in the mobility sector and other industry verticals. Data Respons' core technologies include IoT, 5G, AI, embedded software, cloud and mobile services, which are key in enabling future mobility infrastructures in high demand by customers;In line with its CLEAR 2022 targets, the operation will allow AKKA to accelerate its leadership in the fast-growing global digital market and will shift AKKA revenues predominantly towards digital.
Mauro Ricci, Chairman and Chief Executive Officer of AKKA, commented: “This project is a true game changer in a data driven world. We will create Europe’s largest and most comprehensive digital solutions powerhouse for the fast-growing mobility market. This is the result of our continued investment in AKKA’s expertise and adds considerable power to create value for our clients with solutions in digital, software, connectivity, cloud and engineering. The combined expertise and size will allow us to leverage a comprehensive software portfolio towards capturing larger contract volumes in major Nordic and German markets in particular, where Data Respons has already overcome barriers to entry and developed strategic positions. At the end of the day, the underlying strength of this deal is that both companies share the same entrepreneurial values and a common vision.”
Important Information about this release
The Offer Document contains further details regarding the Offer, and the Data Respons shareholders are advised to review the Offer Document in detail. The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions and the Offer is not made in any jurisdiction where the making of the Offer would not be in compliance with the laws of such jurisdiction. The Offeror assumes no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement does not in itself constitute an offer. The Offer is made in the Offer Document and can only be accepted pursuant to the terms of such document.
J.P. Morgan Securities Plc is acting as financial adviser to the Offeror and DNB Markets, a part of DNB Bank ASA, is acting as domestic financial advisor and receiving agent. Advokatfirmaet Thommessen AS is the Norwegian legal adviser to the Offeror in connection with the Offer.
All documents relating to this operation will be posted on AKKA’s Investor Relations website at https://www.akka-technologies.com/investors/
Upcoming events on AKKA’s Financial Calendar:
Full-year 2019 revenue: Thursday, 6 February 2020
Full-year 2019 results: Tuesday, 17 March 2020
In case of discrepancies between the French and English versions of the press release, only the English version shall be deemed valid.
AKKA is the European leader in digital engineering consulting and R&D services in the mobility segment. The company has developed its solutions portfolio with numerous investments over the years towards structuring its digital solutions portfolio. As an innovation accelerator for its clients, AKKA supports leading industry players in the automotive, aerospace, rail and life sciences sectors throughout the life cycle of their products with cutting edge digital technologies (AI, ADAS, IoT, Big Data, robotics, embedded computing, machine learning, etc.).
Founded in 1984, AKKA has a strong entrepreneurial culture and is pursuing its fast-paced growth and international development in line with its CLEAR 2022 strategic plan. With approximately 21,000 employees, who are passionate about technology and dedicated to advancing the future of industry, the Group recorded revenues of €1.5 billion in 2018.
AKKA Technologies is listed on Euronext Paris and Brussels – Segment A – ISIN code: FR0004180537.
For more information, please visit www.akka-technologies.com
Follow us on: twitter.com/AKKA_Tech
About Data Respons
Data Respons is a pure-play digital leader with an in-depth expertise in software development, R&D services, advanced embedded systems and IoT solutions. The company is headquartered in Oslo (Norway) and has a strong portfolio of clients in the Nordic region and in Germany, supported by 1,400 software & digital specialists. Data Respons displays a strong financial profile, with organic growth above 10% and EBITA margin of ca. 11.9% expected for 2019 (as per consensus).