Teaching apps confront elephant in the classroom

Kahoot ASA

15/10/2020 15:20

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Karen Kwok
    LONDON, Oct 15 (Reuters Breakingviews) - SoftBank’s call to
buy a 9.7% stake in Kahoot! reflects a surge in demand for
educational tech. But given users of the $2.7 bln Norwegian
group’s app access it using Google, the U.S. tech giant may
decide to develop its own version. That could at least limit
stateside growth.         
    Full view will be published shortly.
    On Twitter https://twitter.com/karenkkwok
    
    CONTEXT NEWS
    - SoftBank Group has taken a 9.7% stake in educational
gaming company Kahoot! by investing 1.98 billion Norwegian
crowns ($215 million) in new equity, the Norwegian company said
on Oct. 13. 
    - The new shares were sold to a unit of Softbank at 46
Norwegian crowns each, a 7.3% discount to Oct. 12’s closing
price of 49.65 Norwegian crowns.
    - The new cash will help the company fund its expansion
plans, which could include mergers or acquisitions, details of
the transaction showed.
    - Kahoot! is planning to list on Norway’s main stock market
next year, as it is currently listed on Oslo’s Merkur Market, a
smaller stock exchange that allows small- to medium-sized
companies to access public capital. 
    - Share prices of Kahoot! rose 13.6% following the
announcement, trading at 56.3 Norwegian crowns at 0908 GMT on
Oct .13. 
    - For previous columns by the author, Reuters customers can
click on  KWOK/ 
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UPDATE 1-SoftBank takes 9.7% stake in Norway's Kahoot, boosting
share price     urn:newsml:reuters.com:*:nL8N2H41HL
Company statement    https://kahoot.com/investor/announcements/kahoot-as-equity-private-placement-to-softbank/
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 (Editing by George Hay and Oliver Taslic)
 ((karen.kwok@thomsonreuters.com; Reuters Messaging:
karen.kwok.thomsonreuters.com@reuters.net))