OXO Technologies to merge with Finnish private equity firm

Listed holding company OXO Technologies on Monday said it signed an agreement with all shareholders of Finnish venture capital and private equity firm 3TS Capital Partners, under which it will acquire a minority stake in 3TS as a first step, and then merge with it partly through share purchase and partly through share swap.

OXO Technologies’ merge

After completing the necessary due diligence procedures, the two companies finalised the agreement and signed it on January 12. The sides agreed that they intended to operate as a unified group of companies already in 2025.

As a first step of the transaction, OXO Technologies Holding will become a part owner in 3TS Capital Partners, for which, as well as for the implementation of other ideas planned for 2025, it has raised EUR 3.5m in financing from its shareholders. Considering the recent restructuring and change of headquarters of OXO Technologies Holding, the current form of financing is a convertible shareholder loan, due to be converted into ordinary shares at the end of the first half of 2025, at a price corresponding to a pre-determined 180-day average price.

OXO Technologies Holding also announced a share buyback programme on April 29, 2024, suspended upon the commencement of negotiations to acquire and merge 3TS. This suspension was lifted upon the finalisation of the agreement between the parties, thus the original share buyback program became enforceable again under the original terms. 3TS has investments of over EUR 400m and has backed local startups such as LogMeIn and Tresorit.

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