Triniti and Ellex Advise on Bercman Technologies’ Acquisition of Krakul

Triniti and Ellex Advise on Bercman Technologies’ Acquisition of Krakul

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Triniti has advised Krakul Holding on the sale of its Krakul subsidiary to Bercman Technologies. Ellex advised the buyer.

Bercman and Krakul’s parent company (Krakul Holding OÜ) concluded a conditional swap for a share of Krakul and shares of Bercman Technologies so that Bercman would acquire 100% shares of Krakul. The acquisition shall be paid for by Bercman shares.

The transaction involved a conditional share swap. Bercman will acquire all shares in Krakul, to be paid for with Bercman shares. According to Ellex, "the transaction shall be completed if Bercman’s extraordinary general meeting approves the conclusion of the transactions and permits an increase of share capital and the issuance of new shares to pay for the acquisition. Bercman’s extraordinary general meeting will take place on December 1, 2021."

Krakul is an Estonian IoT and autonomous systems developer, offering product solutions such as stereo cameras for NASA’s lunar mission, smart insoles, smart beer bottle openers, bicycle parking systems, delivery robots, and autonomous vehicles.

Founded in 2016, Bercman Technologies is a Nasdaq First North listed company specializing in the development and sale of products and services for traffic safety.

"This is a logical step for us to grow further," Krakul CEO Jaan Hendrik Murumets commented. "We share the same values and mission with Bercman, and their team has strong competencies in machine learning, machine vision, and strong sales organization. Unifying the two teams allows us to develop new products and services, expand into export markets, and win new customers."

"The two companies share common goals to make the world a better place through technology," added Bercman Technologies CEO Mart Suurkask. "Bercman develops intelligent traffic solutions, Krakul develops IoT and autonomous systems. The merger of the companies would create synergies that would allow us to jointly develop and market new services in the field of autonomous vehicles and intelligent traffic solutions."

The Triniti team included Partner Tonis Tamme and Associate Peeter Motskula.

The Ellex team was led by Partner Gerli Kivisoo.