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Verdane buys, merges Finnish corporate e-learning pair to create Northern European leader

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Northern Europe-focused private equity player Verdane has bought and merged a pair of Finnish B2B e-learning content businesses.

The platform investment in Eduhouse and Wistec creates a Northern European leader for subscription-based e-learning focused on accounting, finance, HR, IT and payroll.

Verdane said the platform’s combined learning as a service revenue growth reached about 30% last year.

The firm said it intends to continue developing a market-leading content offering combining Wistec’s IT, HR and self-development products with Eduhouse’s Accounting and Finance services.

Verdane principal Iikka Moilanen said, “As corporate learning grows and shifts towards digital solutions, the combined forces of Eduhouse and Wistec will be uniquely placed to respond to professionals’ needs for high-quality training services through a purely content-focused offering.

“With over 30 software businesses in our portfolio and a strong track record in the educational tech-enabled sector, Verdane is well-positioned to partner with the company and support its plans to consolidate product offering and scale operations across Northern Europe.”

Verdane made both buyouts through its SEK6bn Capital X fund, which it closed in 2019.

The firm’s current portfolio of Finnish software and tech-enabled businesses includes Clausion, Evondos, HappyOrNot, Nomentia and Vaadin.

Last week Verdane bought into Finland-based Fiksuruoka, which sells surplus dry-good groceries and non-food products at discount prices.

In January Verdane hit a €540m hard cap close for its second Edda fund targeting growth investments in tech-enabled businesses.

The Edda II close brought Verdane’s total capital across nine funds to more than €3bn.

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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/verdane-buys-merges-finnish-corporate-e-learning-pair-to-create-northern-european-leader.html

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