Statement from the Board of Directors of HiQ regarding the public takeover bid from Triton

Triton Fund V (”Triton”) submitted, at 07.00 CET this morning, through its wholly-owned subsidiary Goldcup 25969 AB (under name change to Trisall AB) (“Trisall”), a public takeover bid to the shareholders of HiQ International AB (publ) (“HiQ”) to transfer all of the shares in HiQ to Trisall (the “Offer”).

The offer in brief according to the statement from Triton:

  • Trisall will pay SEK 70 in cash for each share in HiQ.[1] The total offer amounts to c. SEK 3,909 million.[2]
  • The Offer does not include warrants holder within the framework of HiQ’s Incentive Programme. Trisall has announced that after the completion of the Offer, it will work to ensure that warrant holders are given fair treatment outside the Offer.
  • The offer implies a premium of:
    • (i) c. 25 percent compared to the closing price of SEK 55.90 and 27 percent compared to the volume weighted average share price of SEK 55.20 on Nasdaq Stockholm the 25 of August 2020 (which was the last day of trading prior to the Offer announcement);
    • (ii) c. 33 percent compared to the volume weighted average share price of SEK 52.82 during the last 30 days of trading prior to the Offer announcement;
    • (iii) c. 63 percent compared to the volume weighted average share price of SEK 42.84 during the last 180 days of trading prior to the Offer announcement; and
    • (iv) c.54 percent compared to the volume weighted average share price of SEK 45.40 during the last 360 days of trading prior to the Offer announcement.
  • Triton’s indicative timeline:
    • Offer document published                                                      9 September 2020
    • Acceptance period                                                                  10 September – 1 October 2020
    • Settlement                                                                               9 October 2020

Further information concerning the Offer on the bidder’s website: www.invest-to-lead.com

 

Advisors
The Board of Directors of HiQ has engaged Danske Bank as financial advisor and Setterwalls Advokatbyrå as legal advisor in relation to the Offer.

 

Statement from the Board of Directors
The Board, together with its advisors, will further evaluate the Offer that has been submitted and will thereafter publish its formal statement on the Offer as soon as possible, at the latest two weeks prior to the end of the acceptance period of the Offer.

 

For additional information, please contact:
Erik Ridman, Director of Communication HiQ, tel: +46 (0)70-420 00 01, E-mail: erik.ridman@hiq.se

 

This information is information that HiQ International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at [08:59] CET.



[1] If HiQ, prior to the settlement of the Offer, pays any dividend or makes any other transfer of value to shareholders, the Offer Consideration will be adjusted accordingly.

[2] Based on 55,842,087 shares, corresponding to the total number of shares outstanding in HiQ.


Erik Ridman

Get in touch

Erik Ridman
Chief Marketing Officer
HiQ
+46 70-420 00 01
+46 8-588 90 000

HiQ acquires German digital transformation consultancy Scandio

HiQ aims to become the leading tech consulting company in Northern Europe. An important step to achieve that goal is to enter the German market with the acquisition of the Munich, Augsburg and Berlin-based digitalization consultancy Scandio.

“This is a big step for us and an important moment in HiQ’s history. We are now entering Germany in an awesome manner. Scandio is a digitization powerhouse and has outstanding competencies in IT-consulting, IoT, AI, cloud transformation, and agile software development. Scandio shares the same values in building a business based on strong company culture. I truly welcome the amazing team of Scandio to HiQ – together we will create magic”, says Sven Ivar Mørch, CEO of HiQ.

Read more

Erik Almén joins HiQ to build the Nordic region's best trainee program, HiQ Leap

“We recruit newly graduates directly from the universities, and that will increase even more going forward. We are making a big investment with our HiQ Leap program, which will be launched soon.” HiQ's CEO Sven Ivar Mørch said in an interview for IDG. Erik Almén has now joins to build and run the HiQ Leap program.

“Developers, engineers, creators and leaders who come directly from the university are very competent and, above all, they are trained in the very latest technology. Getting Erik Almén onboard to build up HiQ Leap will be the perfect way to ensure that our trainees get a good start with us,” says Sven Ivar Mørch, CEO of HiQ.

Read more

HiQ enters partnership for Scaled Agile Framework (SAFe) with Ivar Jacobson International

As digitalization rapidly swoops over all companies and organizations, the need for frameworks for agile development becomes critically important. The step-change in capability however, when those principles are scaled, is mind-blowing! At HiQ we are a trusted partner to a vast majority of the large cap companies in the Nordics and we constantly strive to sharpen and develop our expertise in this area. Accordingly, HiQ has partnered up with the godfather of software engineering – Dr Ivar Jacobson – and his great team at Ivar Jacobson International.

“This is an important step in our development. Ivar Jacobson International is truly the epicenter of knowledge and experience in scalable agile development. To cross that with our vast competence in embedded development, digitalization and transformation, will make our offering within Research & Technology and Business Critical IT significantly stronger”, says Sven Ivar Mørch, CEO and President of HiQ.

Read more