Final result of Piano Software's NOK 351 million offer to acquire all shares in OSE-listed Cxense ASA

Aabø-Evensen & Co is acting as legal advisor to OSE-listed Cxense ASA in connection with the recommended voluntary cash offer to acquire all shares in Cxense ASA by Piano Software.

Piano Software, Inc. (Piano Software), a New York-based business platform for digital media, has completed its acquisition of Cxense ASA (Cxense), the Norwegian provider of advertising, data-management, search, analytics and content-recommendations services.

Piano Software launched on 15 August 2019 a voluntary cash offer, through its subsidiary Piano Software B.V., to acquire the issued and outstanding shares of Cxense at an offer price of NOK 16.00 (EUR 1.6) in cash per Cxense share. The offer price values the total share capital of Cxense at approximately NOK 351m (EUR 35.4m).

Upon expiry of the offer period on 1 October, Piano Software had received acceptances from shareholders representing 93.00% of the outstanding shares and votes in Cxense. Piano Software has announced that settlement is expected to take place on 2 October 2019 and that Piano Software intends, as earlier communicated by Piano Software, to resolve a compulsory acquisition of the remaining shares in Cxense as soon as possible after settlement.

Aabø-Evensen & Co has acted as legal advisor to Cxense in connection with the offer by Piano Software.

Click here to view the stock exchange notice published 1 October 2019.