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M&A

BAZE TECHNOLOGY

Acquired by

HAWK INFINITY SOFTWARE

Denmark Software EV [100m NOK - 500m NOK] 02/2025

Target

BAZE TECHNOLOGY

Acquirer

HAWK INFINITY SOFTWARE

Context

Hawk Infinity Software (HIS) has successfully completed the acquisition of 100% of Baze Technology. The strategic rationale for the acquisition is to integrate a high,performing, specialized IPTV and infotainment platform into HIS's vertical software portfolio. Baze Technology brings a strong financial profile, with LTM revenues of NOK 153.4 million and an LTM EBITDA of NOK 42.6 million. This move allows HIS to penetrate the maritime and hospitality software sectors while benefiting from Baze's established global customer base and technical leadership. The sale process, which was initiated in early 2024, was managed by Deloitte Corporate Finance, acting as the exclusive financial advisor to the sellers. This acquisition strengthens HIS's position as a leading consolidator of mission,critical B2B software in the Northern European market.

This transaction is part of the TMT (Tech, Media, Telecom) industry, which currently tracks an average EBITDA multiple of 13.0x since the beginning of 2026, a 14.6% decrease compared to 2025. This data is based on the contribution of our growing community, composed of M&A and private equity professionals.

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Baze Technology is a premier Norwegian software provider specializing in advanced infotainment and IPTV solutions tailored for the maritime, offshore, and hospitality industries. The organization's core product, BazePort, is a market leading platform that delivers content, information, and entertainment services to crews and guests in demanding environments. Its business model focuses on high reliability and mission,critical software deployments, serving a global client base that includes shipping companies, offshore rigs, and luxury hotels. The entity has established a significant competitive moat through its deep domain expertise and a robust technology stack that operates seamlessly across both satellite and terrestrial networks. With a strong financial track record and consistent growth in recurring revenues, the group is recognized for its ability to enhance the onboard and in,room experience through innovative digital communication tools and specialized media distribution systems.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
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2023
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Other operations with BAZE TECHNOLOGY

mynth data is contributed by M&A / PE professionals and systematicaly cross-verified against private deal documents and official releases. All source materials are destroyed post-validation to guarantee data anonymity and compliance.