Orn Software Holding AS (OB:ORN) agreed to acquire Landax As on May 21, 2021. The transaction will be settled with 80% cash at closing and 20% in Ørn Software shares, issued in line with board authorization. The transaction is based on an enterprise value of NOK 95 million and implies a multiple of 4.5x on ARR. At the end of 2020 Landax had an annual recurring revenue (ARR) of NOK 18.9 million. Landax 's total revenue in 2020 was NOK 30.8 million. Landax has increased its ARR with 14% to NOK 21.2 million. Ørn Software expects to complete the acquisition in June 2021.