On December 19th, the Danish EdTech leader, Shape Robotics, listed on the NASDAQ main market in Copenhagen, finalized the transaction of acquiring the Polish company, Skriware. According to the signed agreement, Skriware shareholders will exchange their shares for Shape Robotics shares, comprising over 1.16 million shares in total. On January 1st, 2024, Skriware will become part of the international group Shape Robotics and will begin to function as a software development center in the global EdTech sector.
“Acquiring Skriware presents us an opportunity to expand our range, strengthen our organizations and increase margins and sales reach. We expect enriching our product will translate into substantial synergies in the operational area, and enable quick increase in the value of the Shape Robotics group. Skriware and Shape Robotics not only have a specific operational mode and successes in the EdTech sector, but also share a common mission. Together, we will be more effective in promoting and developing STEAM education. We have always liked to call Skriware our Polish counterpart, so I am very pleased that we are now joining forces to develop together in the rapidly growing market in Poland and other European markets,” says André Fehrn, CEO of Shape Robotics.
The Danish company, founded in 2017, specializes in designing educational kits that help students build robots. In addition to the shared mission, it also shares a global scale of operation with Skriware. The merger of companies in the EdTech sector enhances synergy resulting from the group’s portfolio, enabling a joint creation of a complete educational path for institutions at all levels.
Shape Robotics’ decision to enter the prospective and dynamically developing Polish market results from its strategy published in the spring of 2023. The rapid appearance of the company on the Polish market allows it to bid in tenders that are about to be announced soon and ensures timely execution of orders.
“By acquiring Skriware, we have gained access to a market of 38 million citizens. By comparison, our previous largest market – Romania, covers just over 19 million people. We assume that the political will associated with major investments in digitization and STEAM education will be at least as strong in Poland as it was in Romania,” said Jeppe Frandsen, a member of the Shape Robotics board.
The Danish company recently moved from NASDAQ First North in Denmark to the main floor of NASDAQ in Copenhagen. The company also announced a new EdTech group strategy for 2024-2026 at the beginning of 2024. The aim of Shape Robotics is to strengthen its position as a leading educational technology supplier, carry out projects and enter new markets using proven methods. Its presence on the main NASDAQ market in Copenhagen is designed to support further company development, further stimulated by the growing demand for robotics and digital solutions in the education sector.
The EdTech sector is a promising segment of the dynamically developing digital economy – particularly in education. The digitization of the education market accelerated after the outbreak of the pandemic and is still on the rise. As early as 2021, the value of the global EdTech market was estimated at $106.46 billion, while the estimated valuation in 2022 already reached $127 billion. In Europe, the value of this market is growing by 14% annually and is predicted to reach $60 billion by 2027.
