Noventiq Holdings plc and Corner Growth Acquisition Corp. Mutually Terminate Transaction
July 04 2024 - 7:30AM
Business Wire
Noventiq Holdings plc (“Noventiq”), a global digital
transformation and cybersecurity solutions and services provider,
and Corner Growth Acquisition Corp. (Nasdaq: COOL) (“Corner
Growth”), a special purpose acquisition company led by veteran
technology investors (“Sponsors”), announced today a mutual
agreement to terminate their merger agreement, originally entered
into on May 4, 2023, and amended and restated on December 29, 2023,
effective immediately. Noventiq and Corner Growth made this
decision as a result of current unfavourable SPAC market conditions
and other factors.
Hervé Tessler, CEO of Noventiq, said: “Due to current
SPAC and equity market conditions, it was mutually agreed that the
best option for all parties at this time is to terminate the
transaction. We have determined that the right decision for
Noventiq is to remain private at this time. We are confident about
our operational outlook, and we look forward to continuing to drive
significant growth in our business.”
Marvin Tien, Co-Chairman & CEO of Corner Growth,
said: “After considering the current market environment, the Corner
Growth and Noventiq teams have mutually agreed to terminate the
transaction. This decision aligns with our shared commitment to
maximizing value for all of our stakeholders. We believe that
Noventiq is well positioned to thrive as a private company at this
time, and the Corner Growth team will continue to be vigilant in
our pursuit of value-creating opportunities for our shareholders
and are confident in our ability to identify alternative pathways
to a successful transaction.”
About Noventiq Noventiq (Noventiq Holdings PLC) is a
leading global solutions and services provider in digital
transformation and cybersecurity, headquartered in London. The
company enables, facilitates, and accelerates digital
transformation for its customers’ businesses, connecting
organizations across a comprehensive range of industries with
best-in-class IT vendors, alongside its own services and
proprietary solutions. The company’s rapid growth is underpinned by
its three-dimensional strategy to expand its market penetration,
product portfolio, and sales channels. This is supported by an
active approach to M&A, positioning Noventiq to capitalize on
the industry’s ongoing consolidation. With around 6,400 employees
globally, Noventiq operates in approximately 60 countries with
significant growth potential in multiple regions including Latin
America, EMEA, and APAC – with a notable presence in India.
About Corner Growth Corner Growth Acquisition Corp.
(Nasdaq: COOL) is a special purpose acquisition company (SPAC)
focused on partnering with a high growth technology company. Corner
Growth’s mission is to deliver value to its investors by providing
a compelling alternative to a traditional public offering. Corner
Growth is uniquely positioned to deliver on its value-add approach
given its management team’s history, experience, relationships,
leadership and track record in identifying and investing in
disruptive technology companies across all technology
verticals.
Corner Growth also brings a group of highly respected investment
professionals, with strong track records and deep individual
experience in SPAC and de-SPAC processes, a rolodex of premier
public market investors, and a team of advisors who offer
experience and access to networks across a broad functional and
physical geography.
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version on businesswire.com: https://www.businesswire.com/news/home/20240703682277/en/
Noventiq Investors: Steven Salter Global VP of Corporate Affairs
IR@noventiq.com Media: Rocio Herraiz Global Head of Communications
pr@noventiq.com Corner Growth David Katz
katz@cornercapitalgroup.com
Corner Growth Acquisition (NASDAQ:COOL)
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