Azerion NV lists in Amsterdam after SPAC deal, valued at over $1.8 bln

Azerion NV

02/02/2022 11:27

AMSTERDAM, Feb 2 (Reuters) - Azerion Group NV, a digital
advertising and entertainment company, on Wednesday listed in
Amsterdam after its acquisition by a special purpose acquisition
company (SPAC) called EFIC1  EFIC1.AS  was completed.
    Shares in the new entity traded 4.4% lower at 9.12 euros per
share, implying a market value for the company of 1.64 billion
euros ($1.86 billion).
    Azerion, founded in 2014 and headquartered in Amsterdam,
makes software that automates the purchase and sale of digital
advertising, and also makes online games and content.
    Co-founder and CEO Atilla Aytekin said it was an important
step for the company to "enter the public markets and continue
to grow and advance our platform."
    Azerion agreed in December to be bought by the SPAC run by
former Commerzbank CEO Martin Blessing, formally named European
Fintech IPO Company 1 BV.  urn:newsml:reuters.com:*:nL8N2SY1A0 
    EFIC1 was listed in March 2021.  urn:newsml:reuters.com:*:nL1N2LO0AT
    As part of the deal, Azerion received 56 million euros to be
used for growth and acquisitions. 
    Some 74.3% of the company's shares are owned by Principion
Holding BV, an entity controlled by its co-founders.
    ($1 = 0.8857 euros)


 (Reporting by Toby Sterling; editing by Jason Neely)
 ((toby.sterling@thomsonreuters.com;))