AKKA Technologies SE (ENXTPA:AKA) made an offer to acquire remaining 22.03% stake in Data Respons ASA (OB:DAT) from a group of shareholders for approximately NOK 800 million on March 6, 2020. Under the terms of the agreement, AKKA Technologies SE made an offer to acquire all of the shares of Data Respons ASA for a consideration of NOK 48 per Data Respons share. AKKA has committed to not increasing the offer beyond NOK 48.00 per share during the mandatory offer. As of March 6, 2020, AKKA Technologies is holding 58,874,753 shares representing 77.97% stake in Data Respons ASA. AKKA Technologies will finance the offer through its current financing and resources. AKKA Technologies has no current plans to make any change to the Data Respons's workforce following completion. Completion of the Offer is not subject to any closing conditions. As on March 6, 2020, Oslo Børs approved this offer. If AKKA acquired stake increased to more than 90% then it will have the right to initiate a compulsory acquisition (squeeze-out) of remaining Shares not owned by AKKA. As on March 13, 2020, AKKA Technologies owns or has received acceptances for a total of 69.7 million shares, representing in total 92.26% of the share capital of Data Respons. Given that AKKA now holds more than 90% of the share capital of Data Respons, a compulsory acquisition (a squeeze out) of the remaining shares not owned by AKKA and a delisting will be carried out in due course.

Following completion of the Offer, the Offeror reserves its right to propose to the general meeting of the Company to apply to the Oslo Stock Exchange for the delisting of the Shares in the Company. The offer period will start from March 9, 2020 to April 6, 2020 and this offer period will not be extended. AKKA believes that transaction will be accretive to growth, margins and cash flows. Svenska Handelsbanken AB (publ) (OM:SHB A) acted as an independent fairness opinion provider to Board of Directors of Data Respons. J.P. Morgan Securities Plc acted as financial advisor to AKKA and DNB Markets acted as domestic financial advisor and receiving agent. Thommessen Krefting Greve Lund AS acted legal advisor to AKKA in connection with the offer. ABG Sundal Collier Holding ASA (OB:ASC) acted as financial advisor to Data Respons.