Verdane acquires Penetrace from Skagerak Maturo.
Penetrace, an Oslo, Norway-based company developing software solutions for measuring the efficiency of marketing campaigns, announced entering into a deal whereby Verdane Capital becomes major shareholder in the company.
The transaction has financial details undisclosed and was made by funds represented by Verdane, Verdane Capital IX with the ones represented by actual owner Skagerak Maturo, respectively Skagerak Venture Capital I’s and Skagerak Seed Capital II.
The deal, which included the acquisition of another Norwegian company, Zisson, a provider of cloud-based switchboard software solutions, valued the two companies at NOK 150M ($17.75M).
Skagerak Maturo held 42% of the Penetrace's shares and 58% of Zisson's.
Penetrace, led by CEO Henning Tunsli, was build by six advertisers in 2005 aiming for the objective to work more systematically, learn more from each activity and increase the return on their marketing investments. As such they developed and sold a real-time dashboard solution of KPIs to measure the effectiveness of offline and online marketing campaigns. Penetrace has about 30 team members located in Oslo, Stockholm, Copenhagen and Vietnam.
Skagerak Maturo took the equity position in Penetrace in 2009.