General Atlantic buys Softbank’s stake in Kahoot!


Shares of Kahoot! A/S KAHOT, +21.96% KAHTY, -17.57% rallied 23% Friday after General Atlantic said it would buy out Softbank Group Corp.’s 9984, +0.37% SFTBY, -0.05% 15% stake in the Norway-based game-based learning and trivia software company. “Kahoot! plans to partner with General Atlantic to accelerate further growth initiatives, drive innovation, and expand its global footprint in homes, schools, and corporations,” the company said. Based on Kahoot!’s market cap of $966 million, the 15% stake is worth about $145 million. SB Northstar LP, a fund managed by a 100% directly owned subsidiary of SoftBank, is selling its full stake in the company to General Atlantic. General Atlantic will be Kahoot!’s largest shareholder. Softbank invested in Kahoot! in 2020.

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