Proport doubles down on AI with Growth Marketing buy, funded by $1.6M rights issue
What's the deal? Swedish investment company Proport Invest has completed its acquisition of Growth MarketingDealroom has a profile for this one. Try Dealroom → and its subsidiary Nordic AI GrowthDealroom has a profile for this one. Try Dealroom →, the firm said. The deal closed under an agreement dated September 21, with Proport taking all shares in both businesses.
What's the endgame? Growth Marketing runs a profitable SEO and digital marketing agency; Nordic AI operates a subscription-based platform for visibility in traditional and AI-driven search. Proport says the combined businesses should more than double its annual revenue and add to profit and cash flow.
The price: The deal is valued at US$3.02M — US$1.21M in cash on completion and up to US$1.81M in newly issued Proport shares, contingent on the acquired businesses hitting EBITDA targets over three years.
By the numbers: Growth Marketing posted revenue of about US$1.31M for the year ended June 2026, with EBITDA of US$495.6K and a 38% margin. Revenue has climbed steadily from about US$652.7K in 2022/2023. Nordic AI's annual recurring revenue reached roughly US$362.6K by late October, up 41%, according to the company.
Why now? "This is an important milestone for Proport and a clear step in our long-term strategy," said chief executive officer Marko Rado (translated from Swedish), pointing to combining documented profitability with a scalable AI platform and recurring revenue.
What could go wrong? To fund the cash portion, Proport ran a rights issue of roughly US$1.81M, raising dilution and execution questions for investors. The acquired businesses will begin appearing in Proport's consolidated accounts in the fourth quarter.
The signal: The deal reflects how smaller listed investment firms are leaning into AI-driven search optimisation as companies' digital visibility increasingly depends on AI tools — pairing a cash-generative agency with a recurring-revenue software bet.
Read more: affarsvarlden.se
Image credit: Generated with Gemini
