Nordic M&A News
May 8, 2018

- Denmark -

Axcel has sold Driconeq (Borsen)

Following a ownership of 11 years, Axcel has sold the Swedish drilling equipment company Drivoneq to the Irish engineering company Mincon Group. According to Borsen, Axcel has lost hundreds of millions DKK on his deal, as a result of a much lower valuation compared to 11 years ago.

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- Sweden -

Universum is sold to German media giant (Realtid)

The Swedish Employer branding company Universum is sold to the German media house Axel Springer. The company will be integrated with Axel Springer's digital recruitment platform Stepstone. Last year, Universum reported sales of SEK 310m with an operating profit of approx. SEK 60m.

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- Norway -

VDL Bus & Coach completes acquisition (Bussmagasinet)

Last year, VDL Bus & Coach announced that it had entered into an agreement for VDL Bus & Coach Nordic AB to acquire the Swedish Björks & Byberg. This agreement has just been signed, and it will strengthen VDL Bus and Coach in the role of the transition to zero emissions in the Nordic market for smart urban development, CEO of VDL Bus & Coach says.

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- Finland -

Nokia acquires SpaceTime Insight (Talouselama)

Nokia acquires the California-based IOT startup SpaceTime Insight. PitchBook has estimated the valuation of SpaceTime Insight at just over USD 103m in 2016. Currently, IOT is a very small part of Nokia's business. Last year, Nokia reported sales of EUR 24bn compared to the software division of Nokia, in which IOTise located, which reported sales of EUR 1.5bn.

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Prepared by Morten Loft Sørensen