Giant Norwegian information-technology company Evry ASA is set to become privately-held after a 4.27 billion kroner (€490m) takeover offer from Lyngen Bidco AS, a company indirectly owned by private-equity funds advised by Apax Partners LLP. Previously known as EDB ErgoGroup ASA,
Evry's two largest shareholders have said they accept the offer. Posten Norge AS and Telenor Business Partner Invest AS together own 70.24% of Evry shares.
Evry had been carrying out a strategic review over the past few months to evaluate how best to move forward, and said previously at the time that options could include a sale of the company.
Lyngen Bidco's 16-kroner-a-share offer represents a premium of 31% to the share price when Evry initially announced its strategic review.
"I am confident that private ownership will benefit our next phase of profitable growth, and we are looking forward to accelerate and expand our strategy together with Apax," said Evry Chief Executive Terje Mjos.