Verdane acquires literacy software developer Lingit

The deal sees Verdane acquire an 85.5% stake in the company, while Lingit's founders will re-invest to hold the balance of 14.5%.

Verdane drew equity from its most recent fund, Verdane IX, a 2016-vintage vehicle that hit its SEK 3bn hard-cap after three months on the road.

With Verdane's backing, Lingit plans to bring its products into the broader European market, the GP said in a statement.

Company
Headquartered in Trondheim, Lingit is a developer of software to improve literacy for people with dyslexia or reading and writing difficulties.

The company was founded in 2001 and employs 14 people, as well as additional programmers in Bergen and Ukraine.

Lingit had NOK 30.6m of revenues in 2016 with NOK 9.7m of EBITDA.

People
Verdane Capital Advisors – Jakob Greger Gravdal (investment professional).
Lingit – Gorm Bjørnar Karlsen (Lingit).

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