Japan's SoftBank Group has taken a 9.7% stake in educational gaming company Kahoot by investing 1.98 billion Norwegian crowns ($216 million) in new equity, the Norwegian company said on Tuesday.
by investing 1.98 billion Norwegian crowns in new equity, the Norwegian company said on Tuesday.
Kahoot’s share price jumped 17.8% in early trade, hitting a record 58.5 crowns on the news. The shares have risen 179% so far this year. “SoftBank will strengthen shareholder base as an investor with deep expertise and experience owning and developing software companies,” the Oslo-listed firm said in a statement.
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