Against the background of the global lockdown, people have become more interested in learning languages. So the Norwegian designer of educational tests Kahoot decided to invest in this area. The company announced the takeover of Drops, mobile developers from Estonia who make language games.
Kahoot wrote about the deal on her blog. According to the Norwegians, they will pay $31 million in cash — the price of 100% of Drops shares — before the end of November 2020. Later, the company will transfer about $19 million more, but the exact amount of the amount will depend on the financial results of the developers in 2020-2022.
Drops is a young studio from Tallinn. Its eponymous language platform is currently used by 25 million people. Moreover, 7.5 million users came only this year. The developers themselves assume that by the end of the year the audience will grow by another 5 million.
This is the second takeover for Kahoot this fall. The last transaction took place in mid-September. Then the company acquired the Danish startup Actimo, engaged in corporate training, for $ 33 million.
Also on the topic:
- Epic Games acquired Hyprsense, developers of real-time facial animation capture technologyBandai Namco invested $3 million in developers of three-dimensional avatars
- Embracer Group acquired 13 companies, 6 of them went to Saber Interactive
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