Arntzen de Besche has assisted Huddlestock Fintech with the acquisition of Bricknode

We are proud to have acted as legal advisers to Huddlestock Fintech with the purchase agreement to acquire all operational assets of the Swedish fintech company Bricknode Holding AB. With this acquisition Huddlestock Fintech will get revenue synergies of NOK 25 million.

The agreement offers strong business logic as the two companies' product and technology platforms are highly complementary. The combination is expected to generate significant cost synergies and an accelerated revenue growth from both upselling opportunities amongst the combined customer base and an expanded target market with the complete end-to-end solution.

John E. Skajem, CEO of Huddlestock, states the following:

Huddlestock's vision is to democratise the financial industry, and by including Bricknode in the Huddlestock Group, we can support digitalisation of the financial industry even better and more efficiently. The two companies complement each other perfectly with Huddlestock having strong trading technology, access to global markets and an investment banking license, whereas Bricknode contributes proven back-office technology, operational services, front-end user interfaces along with highly competent teams from both companies.

Our core team consisted of Per Kristian Ramsland, Jostein Todnem Sakkestad, Eyvind Sandvik, Sven Iver Steen and Karl Rosén.


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