Swedish accounting software firm Fortnox has received a joint cash offer from its largest shareholder First Kraft and private equity giant EQT, valuing the company at SEK55bn ($5.51bn), according to a report by Reuters.
The report cites the Fortnox board of directors in a Statement on Monday as unanimously recommending that shareholders accept the deal.
The offer price of SEK90 per share represents a 38% premium over Fortnox’s closing price on 28 March, highlighting the bidders’ confidence in the company’s growth potential.
EQT stated that it intends to support Fortnox’s long-term expansion, emphasising the need for substantial investments in product development and M&A opportunities — which may involve both operational and financial risks.
