OSLO, NORWAY: Hawk Infinity AS has acquired a majority ownership in Jotta Group. Following a transaction with existing shareholders holding 64.8% of the outstanding shares in Jotta Group, Hawk has assumed ownership of 98.9% of the outstanding shares and 100.0% of the votes in Jotta Group in exchange for issuance of new shares in Hawk.
The existing shareholders will consequently retain their exposure to Jotta Group through their ownership in Hawk. The remaining shares in Jotta Group not held by Hawk are non-voting B-shares as part of the company’s management investment program.
The transaction was completed at an implied equity valuation of Jotta Group of 1,524 MNOK on a 100% basis. The transaction does not constitute a change of control event according to the bond terms. The transaction was closed on June 17th, 2022.
Hawk Infinity is a Norway-based investment company focusing on founder-friendly investments in privately held software companies with a long-term horizon. The investment portfolio primarily consists of B2B software businesses within cloud-based storage and transfer services, property technology services and health services. Hawk has since inception in 2016 delivered strong investment returns driven by accretive investments and profitable growth in its investment portfolio.