BRUSSELS & OSLO, Norway--(BUSINESS WIRE)--Regulatory News:
Reference is made to the announcements dated December 19th 2019, January 13th, January 31st and February 10th 2020 regarding AKKA Technologies SE's (Paris:AKA) (BSE:AKA) (ISIN:FR0004180537) recommended voluntary offer for all outstanding shares in Data Respons ASA against a settlement in cash of NOK 48.00 per share.
Following the closing of the voluntary offer period, AKKA holds 72.89% of Data Respons' share capital; the success of this operation gives rise to Europe’s most comprehensive digital solutions portfolio in the growing mobility market. With its absolute majority, AKKA will continue to invest in the development of this portfolio of offers and the two companies will immediately start working together to implement the strong commercial and operational synergies.
Mauro Ricci, Chairman and CEO of AKKA, commented: "By accepting this offer by a large majority, Data Respons' shareholders have demonstrated their support for this joint business proposition between AKKA and Data Respons. This project is a true game changer in a data-driven world. From 2020, AKKA will benefit from a powerful half a billion euros-strong platform, enabling it to confidently achieve its CLEAR 2022 objectives, in particular generating 75% of its turnover in digital. The combination of our respective skills with a comprehensive portfolio within digital, software, connectivity, cloud and engineering solutions, will enable us to win larger contracts, namely in the Nordic and German markets.
We are delighted to welcome the teams of Data Respons to AKKA. Thanks to our common entrepreneurial values and shared strategic vision, we will build an unrivalled force in the digital world. I would like to thank Kenneth, Erik and the entire management team at Data Respons for their support throughout this operation.”
Erik Langaker, Chairman of the Board of Directors of Data Respons, states: "We are delighted with the success of the offer and that a large majority of Data Respons shareholders have chosen to tender their shares to AKKA's offer. This new chapter in the Data Respons history reflects the company’s valuable offerings and high-performance culture built by Kenneth and his team over the years. The entire Board of Directors believes that the combined group represents immense opportunities for both employees and existing customers.”
Kenneth Ragnvaldsen, CEO of Data Respons adds: "We share the same values and passion for innovation and technology as AKKA and look forward to joining forces. This will surely generate greater value for our customers and at the same time be an outstanding opportunity for our fantastic employees, which is the heart, soul and most important asset of our company.”
The Offer Document is, subject to regulatory restrictions in certain jurisdictions, available at www.dnb.no/emisjoner/, on AKKA’s homepage at www.akka-technologies.com/investors/ and on Data Repons’ www.datarespons.com.
Upcoming events on AKKA’s Financial Calendar:
2019 full-year results: Tuesday, 17 March 2020
In case of discrepancies between the French and English versions of the press release, only the English version shall be deemed valid.
About AKKA
AKKA is the European leader in digital engineering consulting and R&D services in the mobility segment. The company has developed its solutions portfolio with numerous investments over the years towards structuring its digital solutions portfolio. As an innovation accelerator for its clients, AKKA supports leading industry players in the automotive, aerospace, rail and life sciences sectors throughout the life cycle of their products with cutting edge digital technologies (AI, ADAS, IoT, Big Data, robotics, embedded computing, machine learning, etc.).
Founded in 1984, AKKA has a strong entrepreneurial culture and is pursuing its fast-paced growth and international development in line with its CLEAR 2022 strategic plan. With approximately 21,000 employees, who are passionate about technology and dedicated to advancing the future of industry, the Group recorded revenues of €1.8 billion in 2019.
AKKA Technologies is listed on Euronext Paris and Brussels – Segment A – ISIN code: FR0004180537.
For more information, please visit www.akka-technologies.com
Follow us on: twitter.com/AKKA_Tech
About Data Respons
Data Respons is a pure-play digital leader with an in-depth expertise in software development, R&D services, advanced embedded systems and IoT solutions. The company is headquartered in Oslo (Norway) and has a strong portfolio of clients in the Nordic region and in Germany, supported by 1,400 software & digital specialists.