Onni Bidco Completes Tender Offer for Innofactor Shares

Onni Bidco Completes Its Tender Offer for Innofactor Shares

Innofactor has announced a significant update regarding Onni Bidco’s voluntary recommended public cash tender offer. The offer, meticulously structured to acquire all outstanding shares of Innofactor Plc, has officially concluded, marking a defining moment for both Innofactor and its stakeholders.

Overview of the Tender Offer Process

Initially launched on August 5, 2024, the tender offer aimed to secure more than 90 percent of Innofactor's shares. The Offeror, Onni Bidco Oy, was backed by a consortium that includes CapMan Growth Equity Fund III Ky, led by Sami Ensio, and co-investor Osprey Capital Oy. This joint initiative was designed to enhance the operational capacities of Innofactor through strategic investment and management.

Acceptance and Offer Completion

As of September 16, 2024, the offer period concluded with a total of 18,288,674 shares tendered. This figure translates to approximately 51.10 percent of Innofactor's shares, culminating in a combined total of about 81.00 percent when including shares acquired by the Offeror before and during the offer period. This achievement has allowed the Offeror to finalize the tender offer despite waiving the Minimum Acceptance Condition, thus ensuring the deal proceeds as intended.

Details on the Subsequent Offer Period

To further invite participation from shareholders who have yet to accept the tender, Onni Bidco has initiated a subsequent offer period starting September 19, 2024, and lasting until October 3, 2024. This strategic move reinforces the company’s commitment to maximizing shareholder engagement and ensuring that every eligible shareholder has the opportunity to participate. The final offer price is set to be compensated to participating shareholders around October 10, 2024, ensuring swift processing of transactions.

Investor Insights and Expectations

The Offeror's approach is being closely monitored by market analysts and investors alike. The consortium anticipates that the acquisition will strengthen Innofactor’s market position, given its reputation as a leading provider of modern digital solutions in the Nordic region. With a strong workforce and considerable experience in integrating Microsoft solutions, Innofactor is well-positioned for future growth.

Innofactor’s Market Impact

Innofactor's leadership in the digital solutions sector has made it a preferred partner for nearly 1,000 clients across various sectors. The company not only offers comprehensive IT planning and implementation services but also provides ongoing maintenance and support through a committed team of roughly 600 experts in Finland and neighboring countries. This extensive expertise is anticipated to play a crucial role in realizing the goals set forth by Onni Bidco.

Conclusion

The successful completion of the tender offer by Onni Bidco marks a transformative phase for Innofactor. It highlights the strategic value of collaboration in enhancing business capabilities and market reach. As the Subsequent Offer Period unfolds, the consortium remains focused on leveraging its resources to drive innovation and growth within Innofactor and, by extension, to its stakeholders.

Frequently Asked Questions

What is the outcome of Onni Bidco's tender offer?

Onni Bidco successfully completed the tender offer, with over 81% of shares acquired.

How long is the subsequent offer period?

The subsequent offer period is from September 19, 2024, to October 3, 2024.

When can shareholders expect payment for their shares?

Payments to shareholders are expected to be processed by October 10, 2024.

Who are the key players in the consortium backing the tender offer?

The key players include CapMan Group and Sami Ensio, along with Osprey Capital Oy.

How does this offer impact Innofactor's future?

This acquisition aims to enhance Innofactor's operational capabilities and broaden its market influence.

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