Verdane buys Conexus

The GP tapped Verdane Capital X for the purchase, a SEK 6bn investment vehicle that closed in March this year.

Conexus plans to use the fresh capital to accelerate its continued international expansion.

Previous funding
Ströer's corporate venture arm Ströer Digital Ventures acquired a majority stake in Conexus in 2015. Ströer expected Conexus would contribute €12m to its turnover after the purchase, and €2.5-3m to its EBITDA.

Company
Conexus was founded in 2001 and is headquartered in Drammen, Norway. It provides schools with educational software and is used by more than one million students worldwide.

The company also provides educational software for adults and recently secured two government contracts in Singapore for the education of teachers and civil servants. It employs 100 people.

People
Verdane – Johnny Rindahl (partner).
Conexus – Steinar Evensen (CEO).

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• Topics
• Expansion
• Nordics
• Technology
• Verdane Capital Partners
• Norway