Avance advises Accountor Software in relation to the voluntary recommended public cash tender offer for all the shares and option rights in Heeros Plc announced by Accountor Finago Oy.
Heeros is a pioneer in SaaS corporate software with a mission to develop software for streamlined business management, with its shares trading on Nasdaq First North Helsinki. The tender offer follows KKR’s acquisition of a majority stake in Accountor Software earlier this year and supports the company’s ambition to become one of the leading pure-play business software companies, serving SMEs as well as larger organisations and corporations in the Nordics.
The tender offer values Heeros' total equity at approximately EUR 30.7 million on a fully diluted basis. The offer period under the tender offer is expected to commence on or about 20 December 2024 and to expire on or about 17 February 2025.
The completion of the tender offer is subject to the satisfaction or waiver by the offeror of certain customary conditions including, among others, the receipt of necessary regulatory approvals and obtaining of control of more than 90% of all outstanding shares and votes in Heeros.