Sanoma to acquire Dutch edutech company Iddink
Finnish media and learning company Sanoma intends to acquire Dutch educational platform and service provider Iddink.
Sanoma will acquire the Dutch company from private equity firm NPM Capital and Iddink’s management for a debt-free purchase price of 277 million euros.
Iddink operates in the secondary and vocational education markets in the Netherlands, Belgium and Spain, employs around 300 people and reported net sales of 141 million euros in 2017. Following the cash acquisition, Iddink will remain a separate operational company within Sanoma Learning.
“I am very happy to announce our intention to acquire Iddink, which is a clear next step in growing the learning business within Sanoma,” said Susan Duinhoven, president and CEO of Sanoma. “Iddink has close, long-term relationships with its customers and a solid track record. Together we have a clear, shared vision to support teachers and schools to excel at developing the talents of every child.”
The acquisition is still subject to customary closing conditions, including approvals from competition authorities, and is expected to be finalised in the second or third quarter of 2019.