Nordic Capital has expanded its tech and payments track record, with the highly successful IPO of Cint Group AB (publ) (Cint).
Cint, a global software leader in digital insights gathering, today announced the outcome of the initial public offering of its shares on Nasdaq Stockholm. The offering was substantially over-subscribed, attracting very strong interest from large Swedish and international institutional investors as well as the general public in Sweden. The market capitalisation of Cint, based on the IPO price of SEK72 per share, is approximately SEK9.8 billion.
In 2016, Nordic Capital invested in Cint with the ambition of creating a global software leader in digital insights gathering. As a result of significant investment in the technology platform, substantial expansion of its operations in the US and a strategic acquisition, Cint has reached a market leading position. The Cint software automates the insights gathering process so that companies can gain access to high quality insight, faster and more cost effectively, with unparalleled scale. As a driving force of digitalisation of the insights industry, data protection and privacy are fundamental to Cint’s success as well as high priorities on Cint’s sustainability agenda. As a modern software company and employer, Cint is equally focused on employee health and wellbeing and creating a diverse workforce. Today Cint connects companies seeking insights with global consumer audiences, connected to its platform via hundreds of supply partners, and remunerates them for completing online surveys. As of 31 December, 2020, Cint’s platform hosted over 144 million connected consumers across 134 countries. Cint has over 2,500 B2B customers spread across 72 countries, who use its software platform to gather consumer insights and accelerate business growth.
Daniel Berglund, Partner at Nordic Capital Advisors and board member of Cint, comments: “Nordic Capital invests in companies with the potential to become best-in-class, and Cint has evolved from a technology innovator to an industry disruptor at the epicentre of the global insights industry. During Nordic Capital’s ownership, Cint has grown fourfold and made significant investment in its technology platform, expanded into new markets and strengthened its organisation. We are very proud of the past years’ intensive global growth journey, where the team at Cint supported by Nordic Capital has built a company that is stronger than ever before. The interest in Cint’s listing has demonstrated great trust in the company from both private savers and institutions. Nordic Capital looks forward to continuing to be an active owner of Cint and welcomes all new shareholders taking part in this exciting growth journey.”
Tom Buehlmann, CEO of Cint, comments: “Cint’s listing on Nasdaq marks the start of a new chapter. Our commitment to the digital transformation of the insights sector has never been stronger. I am incredibly proud of our achievements so far. More importantly, we at Cint, are only just getting started; the best is yet to come.”
Niklas Savander, Chairman of the board of Cint, says: “The company has had various stages of growth. But the growth it managed to achieve in the last five-year period has been nothing but remarkable. For me it has been a great pleasure to work with Cint’s management team and our owners in bringing the company this far on its growth journey. I am looking forward to welcoming our new shareholders as they join us to march on for an even more exciting future.”
Technology and Payments is one of Nordic Capital’s focus sectors where it has extensive experience, a strong and active sector network, and a dedicated team with local presence across Northern Europe. As one of Europe’s leading tech investors, Nordic Capital has invested EUR 3.5 bn in 18 tech and payment companies since 2004. It has achieved repeatable success and developed thriving companies as evidenced by the performance of investments such as Bambora, Trustly, Siteimprove, Signicat and the most recent investment in Regtech in 2020.