M&A Deal Summary

Prescription Eyewear Acquires LensOn AB

On December 12, 2012, Prescription Eyewear acquired information technology company LensOn AB from Verdane for 18M USD

Acquisition Highlights
  • This is Prescription Eyewear’s 1st transaction in the Information Technology sector.
  • This is Prescription Eyewear’s largest (disclosed) transaction.
  • This is Prescription Eyewear’s 1st transaction in Sweden.

M&A Deal Summary

Date 2012-12-12
Target LensOn AB
Sector Information Technology
Buyer(s) Prescription Eyewear
Sellers(s) Verdane
Deal Type Add-on Acquisition
Deal Value 18M USD
Advisor(s) EOC Partners LLP (Financial)

Target

LensOn AB

Stockholm, Sweden
Online sale of contact lenses.

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Buyer(S) 1

Buyer

Prescription Eyewear

Groundwell, United Kingdom

Category Company
Founded 2004
Sector Retail
DESCRIPTION

Prescription Eyewear Ltd operates as an online prescription glasses retailer.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Sweden) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Verdane

Oslo, Norway

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1985
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Verdane is a Norwegian private investment focused on acquiring portfolios of investments. In addition to secondary investing, Verdane also invests in co-investment pools as well as makes direct investments in individual growth companies. Sectors of interest include consumer products/services, software, energy, technology, and communications. Verdane provides support to portfolio owners to reduce exposure to private equity risk, achieve liquidity and free owners from the burden of managing direct investments. The majority of Verdane's investments are growth stage, however, the Firm can invest at any stage of development. Verdane was formerly known as Four Seasons Venture AS and was established in 1985. Verdane is based in Oslo, with additional offices in Helsinki and Stockholm.


DEAL STATS #
Overall 16 of 46
Sector (Information Technology) 4 of 7
Type (Add-on Acquisition) 12 of 32
Country (Sweden) 7 of 18
Year (2012) 3 of 3
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-06 TeamTec AS

Tvedestrand, Norway

Leader in the global market for furnaces and equipment for waste incineration onboard ships.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 Exensor Technology AB

Lund, Sweden

Exensor Technology AB is a supplier of networked unattended ground sensor (UGS) systems to customers around the world. Exensor is based in Lund, Sweden.

Buy -