AKKA announces intention to acquire Data Respons
AKKA Technologies announced today the intention to submit a voluntary recommended public takeover offer, to acquire the entire share capital of Data Respons ASA for NOK 48 per share in cash, representing a total consideration of NOK 3.7 Bn.
Mauro Ricci, Chairman and Chief Executive Officer of AKKA, commented: “With the proposed acquisition of Data Respons, AKKA is creating a leading, fully digital R&D services player. With the ability to offer a high-in-demand entire embedded IT & software chain, Data Respons will further boost AKKA’s digital capability and generate additional business opportunities in existing and new market segments. It therefore perfectly complements AKKA both geographically and expertise to create substantial synergies between our two client portfolios from day one. But more importantly, we share a common vision and deep understanding of the industries we serve.”
Erik Langaker, chairman in Data Respons Board of Directors stated: “Following several years of outstanding performance by our management team and organization, we believe that this transaction offer very good value for all shareholders. I am confident of the strong strategic fit, and that AKKA will appreciate the unique culture built by Kenneth and the team over many years. The full Board are of the opinion that a combined group represents great opportunities for both employees and existing customers.”
Kenneth Ragnvaldsen, Data Respons’ CEO added: “The proposed acquisition of Data Respons, by AKKA, gives our team an increased potential for development and the two companies are definitively a good strategic match. We share the same values as well as the passion for innovation as AKKA. This transaction can create value for our customers and is an outstanding opportunity to showcase the talent of our fantastic employees, which is the heart, soul and value of our company.”