31st Jul 2019 15:07
(Alliance News) - Thalassa Holdings Ltd on Wednesday said it has made its maiden FinTech investment with the acquisition of a Switzerland registered company in a stock deal worth up to CHF7 million, or around USD7.1 million.
The investment company's Swiss subsidiary, Apeiron Holdings AG, has exchanged a contract, which is expected to complete by the end of September, for the acquisition of id4 AG, which has developed technology to assist financial institutions to comply with Know Your Client, Anti-Money Laundering and client onboarding compliance obligations.
Under the all stock deal, shareholders of id4 will own a maximum of 20% of Apeiron at closing. id4 will be valued at up to CHF7 million and Apeiron at up to CHF35 million.
Shares in Thalassa Holdings were untraded at 78.36 pence each.
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