Triton acquires HiQ
Stockholm (Sweden), 22 October 2020 – Triton Fund V (“Triton”) through Trisall AB (“Trisall”) is the owner of 91 percent of the shares in HiQ International AB ("HiQ")
This follows Tritons public offer, through Trisall to the shareholders of HiQ to tender 100% of the shares at a purchase price of 72 SEK per share. The shares tendered in the public offer as of 19 October 2020 amounts to in aggregate 50,871,458 shares in HiQ, corresponding to approximately 91 per cent of the share capital and the voting rights in HiQ.
Trisall has initiated compulsory acquisition of the remaining shares in HiQ and is promoting a de-listing of HiQ's shares from Nasdaq Stockholm. HiQ is a leading Nordic digital transformation company with a reputation of having among the strongest industrial and technology expertise in their market and is recognized as one of the leaders in custom application development for R&D, as well as for very strong digitalization and design capabilities. Digital services, systems and products are at the core of HiQ’s business offer which span the entire tech and media landscape, from initial business development and digital innovation of new services, business models and experience, all the way to implementation and marketing of these services.
"Triton has a tradition of investing in companies with high potential and is working closely with them to unlock such potential. With HiQ, we are now adding a top-class company to our portfolio, characterized by its expertise and strong culture. We look forward to actively supporting the management and employees of HiQ as a stable owner by investing in the growth and development of the company into a Northern European leader ", said Peder Prahl, Director of the General Partner for the Triton funds.
On 26 August 2020, Triton Fund V, through Trisall announced a public offer to the shareholders HiQ to tender all their shares in HiQ to Trisall for SEK 70 per share. The price was increased on 15 September 2020 to SEK 72 per share.
HiQ helps to make the world a better place by using technology and communication solutions to make people's lives simpler. HiQ is the perfect partner for everyone eager to achieve results that make a difference in a digital world. Founded in 1995, HiQ currently has close to 1500 specialists in four countries and is listed on the Nasdaq Stockholm MidCap list.
For further information: www.hiq.se
Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.
The 45 companies currently in Triton's portfolio have combined sales of around €18,2 billion and around 100,800 employees.
For further information: www.triton-partners.com