Learning app developer Kahoot has purchased Norway-based employee engagement and learning software provider Motimate for approximately $26m, allowing grocery retailer Rema 1000 to exit.
Founded in 2017, Motimate has built an app that provides learning and engagement tools for employees that are designed to make learning fun. Kahoot said it bought the company at an enterprise value of $25m to $27m, including an element based on 2021 performance.
Rema 1000 had provided an undisclosed amount of funding for Motimate through a February 2019 private placement which involved it taking an 11% stake.
Motimate CEO Rolf Risnes said: “From the very beginning of the Motimate journey we have had international ambitions. The fantastic Motimate team is always pushing limits, and we are really proud of our recent growth.
“Teaming up with Kahoot is hugely exciting, and we cannot wait to get started leveraging our synergies to accelerate product development and expand our international reach. This is also a perfect opportunity to thank all our customers for believing in us and helping us build a really strong product!”
