Encode was acquired by Viking Venture for DKK 70 million

Encode, an Odense, Denmark-based SAAS developer for online marketing purposes, announced that it entered into a DKK 70M ($11.4M) investment agreement with the Norwegian investment house Viking Venture.

The deal was made for a majority equity control package via a capital raise. The new capital will be used to hire 15-20 new employees, enter new markets and develop Encode's software.

Encode, founded in 2001 and led by CEO Steen Egholm Sørensen, delivers marketing solutions to customers including Jysk, Coop and XL-byg.