ABG Sundal Collier is acting as financial advisor to House of Control in connection with Visma’s contemplated voluntary cash offer to acquire all shares in the company

On Monday 26 September 2022, Visma Norge Holding AS, a wholly owned subsidiary of Visma AS (“Visma” or the “Offeror”) and House of Control Group AS (“House of Control” or the “Company”) announced that Visma contemplates launching a voluntary cash offer to acquire all outstanding shares of House of Control at a price of NOK 11.20 per share (the “Offer”). The Board of Directors (The “Board”) of House of Control has unanimously decided to recommend the shareholders of the Company to accept the Offer.
The offer price of NOK 11.20 per share (the “Offer Price”) values the total share capital of the Company at a market capitalization of approximately NOK 689 million on a fully diluted basis.
The Offer Price represents:
• 58% above the 30-day volume weighted average price of NOK 7.1026 ending 23 September 2022;
• 65% above the 90-day volume weighted average price of NOK 6.7762 ending 23 September 2022; and
• 60% above the House of Control closing price of NOK 7.0000 on 23 September 2022.
Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, Visma aims to improve people’s everyday lives. Visma currently has 15,000 employees, over 1.3 million customers across the Nordics, Benelux, Central and Eastern Europe, generating revenues of EUR 2.1 billion in 2021.
This is the second time that ABG Sundal Collier acts as advisor to House of Control over the last two years, having acted as joint global coordinator and bookrunner in the listing of House of Control on Euronext growth in October 2020.