Inflexion Private Equity Partners has agreed to buy Norwegian financial data, news and analytics company Infront ASA in an all-cash deal, the two firms said on Tuesday.

Infront’s board unanimously recommended the bid of 34.40 Norwegian crowns per share, valuing the takeover at 1.49 billion crowns ($170.7 million), the companies said.

The offer represents a 10% premium over Monday’s closing share price on the Oslo stock exchange.

“Inflexion is well positioned to help Infront achieve its ambitious growth plans,” the London-based private equity firm’s managing partner Simon Turner said.

Infront, which has some 500 employees in 13 countries, posted a net loss for the first nine months of 2020 of 4.4 million euros ($5.3 million), less than the 7.8 million euro loss in the same period a year earlier.

DNB Markets and Ernst & Young advised Inflexion on the deal while ABG Sundal Collier represented Infront.

Source: Reuters

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