A Californian startup is to list on the London Stock Exchange in a £97m deal, it was revealed today.
Beverly Hills-based content licensing platform Verifyyed has been acquired by London-listed acquisition company Acceler8.
Under the terms of the deal, Acceler8 will suspend its London listing before conducting a placing in order to raise between £10 and £20m of growth capital. Subject to regulatory approval, the company will then re-list as Verifyyed.
David Williams, Chairman of Acceler8, commented: “We are delighted to have reached agreement with Verifyyed and have the opportunity to bring to London such an exciting, high growth technology company.
“The scaling prospects of the business are considerable, and we look forward to working with David, Bobby and the wider Verifyyed team in supporting both the listing and ongoing development of the enlarged group.”
David van Herwaarde, Director of Verifyyed, added: “This is an important milestone in the overall journey for Verifyyed. Following completion of the Proposed Acquisition, our London listing will provide a platform from which we can access further growth capital, and ideally positions the business between our two major markets of the US and Europe.”
Verifyyed is a SaaS business operating in the $8 billion global sync and royalty industry with its transaction sync to royalty platform, premium content licensing marketplace, and royalty tracking, administration and collection services.
Verifyyed’s platform claims to to simplify the end-to-end music sync licensing process and provide rights holders with greater transparency to drive increased royalty revenues and accelerated payment collections.
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