ABG Sundal Collier acted as financial advisor to Ørn Software Holding AS in connection with EG Norge AS’ voluntary offer to acquire all shares in the company

On Monday, 30 May 2022, EG Norge AS (“EG” or the “Offeror”) and Ørn Software Holding AS (“Ørn Software” or the “Company”) announced that EG contemplates launching a voluntary cash offer to acquire all outstanding shares of Ørn Software at a price of NOK 6.25 per share (the “Offer”). The Board of Directors (The “Board”) of Ørn Software has unanimously decided to recommend the shareholders of the Company to accept the Offer. The Offer is a result of a strategic process conducted by the Board of Ørn Software. ABG Sundal Collier ASA has acted as joint advisor to the Board.
The offer price of NOK 6.25 per share of Ørn Software values the total share capital of the Company at a market capitalization of NOK 619,175,400 (the “Offer Price”) on a fully diluted basis. The Offer Price represents:

60% above the 30-day VWAP of NOK 3.905 ending 27 May 2022; and
41% above the Ørn Software closing price of NOK 4.43 on 27 May 2022.

EG is a market leading vendor of Nordic vertical software for private and public customers. EG’s Software-as-a-Service offerings are developed by specialists with deep industry and domain knowledge, supporting business-critical and administrative processes. EG employs 1,700+ people, primarily in the Nordics, and in 2021, had revenues of DKK 1.8 billion.