EQT, First Kraft make offer for Fortnox, valuing it at $5.5 billion

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EQT, First Kraft make offer for Fortnox, valuing it at $5.5 billion

, Reuters - 1:54 AM ET 3/31/2025 Technology

COPENHAGEN, March 31 (Reuters) - Sweden's Fortnox said on Monday its largest owner First Kraft and private equity group EQT had made a joint cash offer for the accounting software firm, valuing it at around 55 billion crowns ($5.51 billion).

Fortnox's board of directors unanimously recommended to shareholders to accept the offer, it said in a statement.

The offer price of 90 crowns per share represents a premium of 38% compared with its closing share price on March 28.

"EQT wants to support Fortnox's continued development, which will require significant and long-term investments in product development and potential M&A initiatives that involve operational and financial risks," EQT said in a separate statement. ($1 = 9.9856 Swedish crowns) (Reporting by Stine Jacobsen; Editing by Anna Ringstrom and Muralikumar Anantharaman)

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