Albert Group enters into an agreement for the divestment of key assets related to Strawbees
eEducation Albert AB (“Albert Group”) has today entered into an agreement to divest key assets of its subsidiary Strawbees AB to US-based EdTech company BirdBrain Technologies, Inc. The total consideration amounts to approximately SEK 27 million (USD 2.85 million) and will be paid in cash at closing.
Transaction background and closing
The transaction is part of Albert Group’s strategic review announced in June 2025. Together with the previously communicated cost savings programme of SEK 25 million on an annual basis, the divestment supports Albert’s financial targets of reaching positive EBITDA during 2025 and cash-flow break-even during 2026, funded by our own resources.
The purchase price amounts to approximately SEK 27 million (USD 2.85 million) and will be paid in cash. Completion of the transaction is expected during the second half of September.
BirdBrain Technologies, Inc. will acquire key assets in Strawbees consisting of primarily intellectual property pertaining to the Strawbees business and all inventory. Consequently, following closing of the transaction, Albert Group will close all Strawbees related business.
Financial impact on the Albert Group
The divestment, once completed, will strengthen Albert Group’s cash position and remove recurring losses of approximately SEK 1 million per month related to Strawbees.
Non-recurring items related to the transaction will be reported in the company’s interim financial report for the third quarter of 2025. The transaction delivers a cash inflow of approximately SEK 27 million and an estimated positive net balance sheet effect of approximately SEK 4 million. The Q3 result will include a non-recurring, non-cash impairment to align carrying values with the consideration.
Comment from Fredrik Bengtsson, CEO of Albert Group:
“I’m grateful to the Strawbees team for their creativity and commitment in building a globally relevant STEM brand, and to have found a strong industrial home for it in BirdBrain.
Divesting key assets in Strawbees is a decisive step in executing our strategy to sharpen Albert Group’s focus. By simplifying the portfolio and strengthening our balance sheet, we can now put all our weight behind our subscription brands and fund that growth from our own resources. Our execution is accelerating and our focus is crystal clear: profitable and sustainable growth.”