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Belgium's AKKA Technologies to make play for Data Respons

Belgium-based company AKKA Technologies SE plans to submit a recommended voluntary cash offer to acquire Norwegian-listed company Data Respons ASA's entire share capital for 48 Norwegian kroner per share. The offer values the company at 3.7 billion kroner on a fully diluted basis.

AKKA Technologies expects that the proposed acquisition would allow the company to become a digital solutions powerhouse and to shift its revenues predominantly toward digital.

Data Respons focuses on software development, research and development services, advanced embedded systems and internet of things solutions. The company's core technologies include IoT, 5G, artificial intelligence, embedded software, cloud and mobile services.

Data Respons has clients in the Nordic region and in Germany and employs about 1,400 software and digital specialists.

As of Dec. 18, US$1 was equivalent to 9.02 Norwegian kroner.