Fortnox AB: A Strategic Shift in Ownership and Market Presence

In a significant development for the Swedish software industry, Fortnox AB, a leading provider of internet-based business software programs, is set to undergo a major transition. The company, headquartered in Växjö, Sweden, is known for its robust solutions in accountancy, bookkeeping, payroll, and invoicing. As of July 10, 2025, Fortnox has announced its intention to delist from the Nasdaq Stockholm, marking a pivotal moment in its corporate journey.

Delisting and Ownership Consolidation

Fortnox’s last trading day on Nasdaq Stockholm is scheduled for July 24, 2025. This move follows a series of strategic decisions by its majority shareholders, EQT and Olof Hallrup’s investment firm, Omega II. Omega II has successfully acquired approximately 97.3% of Fortnox’s shares, effectively consolidating control and paving the way for delisting. The decision to delist was confirmed through a press release, highlighting the completion of a significant phase in Fortnox’s ownership structure.

The delisting process is part of a broader strategy by Omega II, which has been steadily increasing its stake in Fortnox since the initial bid. The acceptance period for the offer has been extended multiple times, reflecting the thorough approach taken by Omega II to ensure a smooth transition. This strategic consolidation is expected to provide Fortnox with greater flexibility and focus on its core business operations without the regulatory and reporting requirements of a public company.

Board Restructuring and Future Leadership

In tandem with the delisting, Fortnox has undergone a board restructuring. At an extraordinary general meeting held on July 9, 2025, a new board of directors was elected, comprising Harry Klagsbrun (chairman), Olof Hallrup, Christian Shin Høegh Andersen, and Adam Scheid. This new leadership team is poised to steer Fortnox through its next phase of growth and innovation, leveraging the company’s strong market position and technological expertise.

Financial Outlook and Market Performance

Despite the delisting, Fortnox remains a formidable player in the software industry, with a market capitalization of SEK 54.4 billion as of July 8, 2025. The company’s stock has shown resilience, closing at SEK 89.64, with a 52-week high of SEK 92.12 and a low of SEK 54.16. The price-to-earnings ratio stands at 70.98, indicating investor confidence in Fortnox’s growth potential.

Looking ahead, Fortnox is set to present its quarterly financial results on July 11, 2025. Analysts anticipate a profit per share of SEK 0.351, reflecting the company’s robust performance and strategic initiatives. This financial outlook underscores Fortnox’s commitment to delivering value to its stakeholders and maintaining its competitive edge in the software market.

Conclusion

The delisting of Fortnox from Nasdaq Stockholm marks a new chapter for the company, characterized by strategic ownership consolidation and a renewed focus on innovation and growth. With a strong leadership team and a solid financial foundation, Fortnox is well-positioned to navigate the evolving landscape of the software industry and continue its trajectory of success. As the company transitions to a private entity, stakeholders can look forward to a future driven by strategic agility and sustained market leadership.