HAWK Infinity, a Norwegian investment company focusing on software companies in Scandinavia, has successfully acquired Digiseg, a Danish AdTech provider. The transaction is structured as a buyout where the existing management team and founders will retain their roles and continue to drive the operational business forward in a new strategic partnership with the sponsor. Clearwater acted as the exclusive sell-side financial adviser to the owners of the acquired entity. This transaction represents a highly strategic platform investment for HAWK Infinity, which operates with a long-term investment horizon. For the acquirer, securing a remarkably lean and highly scalable business with a proven post-cookie technology provides a significant competitive edge. The sponsor's deep industry expertise and available dry powder will serve to further support the company's existing growth trajectory, enabling accelerated market penetration and product development. The partnership allows the management team to leverage the acquirer's structural support and strategic sparring capabilities to navigate the next phase of expansion. This operation serves as a strong market signal regarding the ongoing sector consolidation within the digital advertising and AdTech verticals.

DIGISEG, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (13.6x).

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