Goldman Sachs, the global banking titan, announced on Monday that its ambitious plan to acquire Kahoot ASA – a frontrunner in educational apps – for a staggering 17.2 billion Norwegian kroner (approx. $1.6 billion) has secured antitrust blessings from Austria’s and Germany’s watchdogs.
The nod from the Austrian Federal Competition Authority and the German Federal Cartel Office propels Goldman’s private equity division, under Goldman Sachs Asset Management, closer to their target. These regulatory seals of approval, however, come amid silence from the authorities when approached for statements.
Goldman Wins Antitrust Approvals : Awaiting Global Green Lights
While it’s a ‘go’ in Europe, the banking giant is now on the lookout for green signals from the U.S., Turkey, and China. Riding on optimism, Goldman’s equity wing anticipates these nods by mid-October.
This acquisition saga began back in July when a consortium of heavyweight investors led by Goldman Sachs declared its intent to acquire Kahoot for 17.2 billion Norwegian kroner, valuing each share at 35 kroner.
A Deeper Dive into Kahoot
Hailing its origin from 2012, Kahoot quickly became synonymous with game-based learning platforms for eager minds. Its exponential growth trajectory is evident from its soaring sales, which jumped from $91.2 million in 2021 to approximately $146 million in 2022.