General Atlantic to acquire minority stake in learning and engagement firm Kahoot!

• When this deal closes, General Atlantic is expected to become Kahoot!’s largest shareholder
• Chris Caulkin, a managing director and head of technology for EMEA at General Atlantic, is expected to join Kahoot!’s board of directors
• J.P. Morgan served as financial advisor and Wikborg Rein as legal advisor to General Atlantic

General Atlantic has acquired to acquire a 15 percent stake in Kahoot!, a learning and engagement company. The seller is SoftBank. No financial terms were disclosed.

When this deal closes, General Atlantic is expected to become Kahoot!’s largest shareholder.

Kahoot! was founded in 2013.

On the transaction, Eilert Hanoa, CEO of Kahoot!, said in a statement, “We are very grateful to SoftBank for their partnership over the past two years. As Kahoot! continues to pursue its mission to improve lifelong learning by building a leading global learning and engagement platform, we are thrilled to add a partner of General Atlantic’s caliber. The team at GA brings deep experience in scaling global education technology and software businesses and positioning market leaders for long-term success, and we look forward to our next phase of momentum in empowering the learning ecosystem around the world.”

Chris Caulkin, a managing director and head of technology for EMEA at General Atlantic, is expected to join Kahoot!’s board of directors.

J.P. Morgan served as financial advisor and Wikborg Rein as legal advisor to General Atlantic.

The Kahoot! Group is headquartered in Oslo, Norway with offices in the US, the UK, France, Finland, Estonia, Denmark, Spain and Poland.

General Atlantic currently has over $73 billion in assets under management inclusive of all products as of June 30, 2022.