24SevenOffice acquires a SaaS recruitment platform
24SevenOffice continues to invest into HR as a module in the ERP system by acquiring 51% of the Norwegian SaaS recruitment platform Karriere.no.
Karriere.no is a cloud-based SaaS recruitment platform with around 300 paying business customers and 2,500 registered companies in the portal. With more than 100,000 registered CV´s in the portal companies can search in the database and match their jobs with potential candidates.
For a professional recruitment process Karriere.no offers a complete recruitment system for HR, hiring managers and candidates that comprises the processes, routines and elements essential to expeditious and effective hiring for an organization or for a company.
24SevenOffice has an option to acquire the remaining 49% after 3 years with an exercise period of 2 years. The sellers have an option to sell its shares in the same period. Valuation for the remaining shares is dependent on the growth rate and results, and depending on whether the sellers or 24SevenOffice exercise the option.
Karriere.no AS had revenues of 7 MNOK in 2020 and reached break even results. Total valuation of the company in the transaction is approximately 2 times revenue. Settlement for 51% of the shares is 7.4 MNOK in cash.
The transaction is expected to be closed and consolidated into the accounts in 24SevenOffice by the end of May 2020.
This disclosure contains information that 24SevenOffice Scandinavia AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 27-04-2021 08:30 CET.
For further information please contact:
Ståle Risa, CEO
Tel: +46 70-023 63 03, email@example.com
24SevenOffice in brief
24SevenOffice's vision is to empower businesses for the future, through delivering world class cloud based business systems to small and medium-sized companies. The system is currently used by 59,900 companies in the Nordic region, with PwC, among others, as accounting partner. The business system is module-based, where the modules are provided independently or packaged as complete solutions. For more information see www.24sevenoffice.com