AMSTERDAM : Azerion Group NV, a digital promoting and leisure firm, on Wednesday listed in Amsterdam after its acquisition by a particular goal acquisition firm (SPAC) known as EFIC1 was accomplished.
Shares in the brand new entity traded 4.4per cent decrease at 9.12 euros per share, implying a market worth for the corporate of 1.64 billion euros ($1.86 billion).
Azerion, based in 2014 and headquartered in Amsterdam, makes software program that automates the acquisition and sale of digital promoting, and likewise makes on-line video games and content material.
Co-founder and CEO Atilla Aytekin mentioned it was an essential step for the corporate to “enter the public markets and continue to grow and advance our platform.”
Azerion agreed in December to be purchased by the SPAC run by former Commerzbank CEO Martin Blessing, formally named European Fintech IPO Company 1 BV.
EFIC1 was listed in March 2021.
As a part of the deal, Azerion obtained 56 million euros for use for development and acquisitions.
Some 74.3per cent of the corporate’s shares are owned by Principion Holding BV, an entity managed by its co-founders.
($1 = 0.8857 euros)
(Reporting by Toby Sterling; modifying by Jason Neely)