Press release -

Visma’s offer for House of Control accepted by 98 percent of shareholders

On 28 september 2022, Visma launched a voluntary cash offer of NOK 11.20 per share for all outstanding shares of House of Control, a Norwegian SaaS-company with shares admitted to trading on Euronext Growth Oslo. The offer period expired yesterday at 16:30 (CET).

In a stock exchange release from House of Control this morning, the company announces that Visma’s offer has received acceptances from shareholders representing 97,8 percent of issued and outstanding share capital.

This means that one of the main conditions for the offer, a minimum acceptance level above 90 percent, is now fulfilled.

Settlement of the offer remains subject to several other conditions, including regulatory approval from the Norwegian Competition Authority (Konkurransetilsynet). A separate announcement will be made when this matter is concluded.

Visma’s offer price represents a 60 percent premium to the closing price of NOK 7 per share on 23 September 2022, and is 65 percent above the preceding 90 days’ volume weighted average price of NOK 6.77. Visma’s offer values the total share capital of House of Control at a market capitalisation of approximately NOK 689 million on a fully diluted basis.

The Board of Directors of House of Control unanimously recommends the shareholders of the company to accept the offer.

For more information, please see Visma’s press release from the announcement of the offer on 26 September, and today’s stock exchange release from House of Control.

Topics

  • Corporate Information

Categories

  • mergers & acquisitions

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, we improve people's everyday lives. With 13,500 employees, 1,400,000 private and public sector customers across Europe and Latin America, and net revenue of € 2,081 million in 2021, we are committed to making tomorrow better than today. Visit us at visma.com.

Contacts

Related content

  • Visma to launch cash offer for House of Control

    Visma has entered a transaction agreement to launch a voluntary cash offer of NOK 11.20 per share for all outstanding shares of House of Control.
    House of Control develops software as a service (SaaS) solutions for contract management and IFRS 16 compliance to customers across the Nordics, and its shares are admitted to trading on Oslo Euronext Growth.
    “House of Control delivers mission crit

  • Visma's acquisition of House of Control receives regulatory clearance

    In a press release earlier today, Visma announced that its voluntary cash offer for all outstanding shares of House of Control, a Norwegian SaaS-company with shares admitted to trading on Euronext Growth Oslo, has been accepted by 97,8 percent of its shareholders.
    Visma can now also announce that it has received a receipt of regulatory clearance for the acquisition of the shares by the Norwegia