Triton Fund Makes Offer of $445 M to HiQ International.



Leading private equity firm, Triton has made a bid of $445 million (3.9 billion crowns) for the Swedish IT Consultant HiQ International. This bid was a 25% premium to HiQ's closing on Tuesday. Triton is offering to buy 70 crowns per share, that it anticipates will gain at least 70% of stake in the company.

HiQ is a leading Nordic firm in IT and is highly known not only for its custom made applications for R&D but also for its efficient digitalization and design abilities. HiQ's core businesses include digital services, and systems as well as innovations and brilliant marketing in new digital services. HiQ has a stronghold in Nordic digital market with many exclusive and attractive employees, and a respectful brand image. Triton believes that its long-term investments providing capital resources, and operational support assorted with HiQ's reputation can expand the company both domestically and internationally. HiQ's telecom and automotive sectors have been buoyant during the pandemic, nevertheless it has suffered a 8% loss in sales in the second quarter.

Thomas Hofvenstam, Head of Nordics at Triton said, "HiQ has the opportunity to develop into a Northern European leader by building on its unique platforms, such as Frends, as well as its industry leading innovation, industrial and technology expertise...With this offer, we believe that HiQ's shareholders will receive an attractive premium and a good liquidity alternative..."


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