Anemoi agrees USD150 millilon Trasna acquisition in reverse takeover

(Alliance News) - Anemoi International Ltd on Monday said it has entered into a binding agreement to acquire Sym Technologies Holding Ltd, also known as Transa, in an all-share deal that will be structured as a reverse takeover.

Anemoi, the holding company of wholly owned subsidiary ID4 AG, said it has signed a share purchase agreement to acquire 100% of Trasna, for total consideration of USD150 million. The consideration will be satisfied entirely through the issue of new Anemoi shares, priced at GBP0.02 each.

The proposed transaction follows Anemoi's October announcement regarding discussions with Trasna and will be classified as a reverse takeover due to the size of the acquisition relative to Anemoi's market capitalisation.

On completion, Anemoi said it will apply for readmission of the enlarged group's shares to trading on the Equity Shares (Commercial Companies) category of the London Stock Exchange. The company also plans to change its name to Trasna Ltd following completion.

Trasna is a technology group specialising in semiconductor and cellular internet-of-things solutions, with around 200 clients worldwide. The group provides integrated hardware and software products spanning chip design, SIM and eSIM manufacturing, data management and device lifecycle services.

Anemoi said the transaction remains subject to a number of conditions, including the transfer of all operating Trasna group entities into Trasna (Abu Dhabi), completion of due diligence and a fundraise to be conducted at the time of the reverse takeover and readmission.

Chair Duncan Soukup said: "I am delighted that we have secured such an exciting business prospect for our Shareholders who I would like to thank, along with the AMOI board, for your patience during the search process. Thank you all for your support on this stage of a journey which in reality is only just beginning."

Trasna founder and Chief Executive Officer Stephane Fund said the proposed transaction would provide access to public capital to accelerate the group's growth and strengthen its position in the global semiconductor industry.

Anemoi closed down 5.2% at 1.38 pence in London on Monday.

By Eva Castanedo, Alliance News reporter

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