Shoosmiths client Lingit – a specialist software company for people with dyslexia and other reading and writing difficulties – has continued its international expansion with the purchase of a British tech company specialising in text correction.
Lingit’s acquisition of LexAble is a key part in the Norwegian firm’s international expansion. The company was set up in 2007 and made its first move into international markets in 2018 through the purchase of Claro, a British peer offering similar solutions as Lingit.
The Shoosmiths corporate team, led by partner Andrew Millar, advised on both of the company’s purchases.
Andrew said: “We’re incredibly proud to have worked with Frode and everyone at Lingit AS on a second UK acquisition in two years. The work they are doing is quite remarkable so it’s a privilege to be part of their ongoing journey. We sincerely wish them all the best and look forward to working with them again soon.”
Lingit CEO Frode Thulien said: “I’d like to thank Andrew and the team at Shoosmiths. The support they provided to us on this transaction has been integral to its success and to helping us grow the business. We are incredibly committed to reaching and assisting a global user base with their reading and writing challenges, with the aim of creating equal opportunities for all.”
Lingit develops language technology which makes reading and writing easier. Its software supports users with spelling, word choice and reading on computers and tablets and allows users to “read with their ears”, making it less likely for spelling mistakes to occur. This enables users to read more and produce better texts.
Lingit’s revenues amounted to NOK 34 million in 2017, when the Northern European specialist growth investor Verdane became majority shareholder and Lingit’s international growth strategy was implemented. The goal is to reach more than NOK 130 million in revenues in 2020, including completed acquisitions.
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This information is for educational purposes only and does not constitute legal advice. It is recommended that specific professional advice is sought before acting on any of the information given. © Shoosmiths LLP 2024.