Visma has announced an all-cash voluntary recommended public takeover offer for Penneo

Visma has announced an all-cash voluntary recommended public takeover offer for Penneo. The news was communicated to the market through a stock exchange release on 29 November 2024.

The offer values Penneo at DKK 16.50 per share, representing a Danish stock exchange all-time high premium of 110% compared to the closing price on 28 November 2024.

The board of directors of Penneo has unanimously decided that it will recommend the shareholders of Penneo to accept the offer.

Jostein Vik, Chairman of the Board of Penneo and Partner at Viking Venture (pictured on the right above), comments on the public takeover offer:

– The offer from Visma is attractive for shareholders, with a premium of 110% compared to the last trading price. Partnering with Visma will further strengthen Penneo’s position within digital signature and KYC. Penneo has successfully grown internationally in the space, and Visma’s offer demonstrates their confidence in the company’s continued development. This offer is an appreciation to our employees and their accomplishments to date. Our customers and partners will also benefit from Penneo partnering with Visma. Moving forward, Penneo will continue its international journey as the leading technology company in signing and KYC.

Viking Venture has been an investor in Penneo since March 2023 through Viking Venture 29 AS.

You can read the full announcement to the stock exchange here.

Header Image (from left): Erik Fjellvær Hagen, Managing Partner at Viking Venture and Jostein Vik, Chairman of the Board of Penneo and Partner at Viking Venture