- Business combination enables CM.com to accelerate its growth strategy with a total capital contribution of EUR 80 to 85 million[1] [2]
- Dutch Star Companies ONE will provide EUR 65 million[1] which includes an additional EUR 10 million coming from large Dutch Star Companies ONE shareholders
- Teslin Participaties (“Teslin”), will join the business combination as a cornerstone investor with an EUR 15-20 million contribution
- Establishing the business combination is an important strategic opportunity for Dutch Star Companies ONE, enabling its shareholders to be part of the attractive growth strategy of CM.com
- Strong support and pre-deal commitment from non-executive directors, promoters, a select number of large shareholders of Dutch Star Companies ONE and Teslin
- Subject to several approvals, the business combination is expected to become effective on 21 February 2020
CM.com B.V. (together with its subsidiaries, “CM.com”), a global Conversational Commerce platform that provides enterprises full-scale CPaaS (Communication Platform as a Service) services with integrated payment solutions, and Dutch Star Companies ONE N.V. ("DSCO"), a special purpose acquisition company listed on Euronext Amsterdam (symbol: DSC1) have reached an agreement on forming a business combination.
CM.com is a global mobile services provider that offers its customers a combination of end-to-end private cloud-based communication and payment services. The platform includes messaging channels, such as SMS, WhatsApp Business, Apple Business Chat and Google RCS. CM.com has accumulated the necessary know-how and developed a proprietary technology platform over the past 20 years and believes it is now ideally positioned to take advantage of the vast global demand for Conversational Commerce and progress to the next phase of growth by scaling up its operations.
The business combination will give CM.com a listing on Euronext Amsterdam and a significant capital injection. DSCO believes that the business combination with CM.com is a highly compelling opportunity to fuel CM.com’s growth strategy going forward. Forming the business combination is an important, strategic opportunity for DSCO shareholders, enabling them to participate in CM.com’s attractive business model and ample growth opportunities. The business combination is expected to become effective on 21 February 2020, subject to customary approvals having been obtained.
The support of the DSCO non-executive directors, promoters and shareholders among which various recognized Dutch entrepreneurs and entrepreneurial families, creates a strong basis of new long-term oriented investors for CM.com. The additional pre-deal commitment of Teslin, which has also been secured, underscores the support for the long-term potential of CM.com as a listed company.
Jeroen van Glabbeek, CEO and co-founder of CM.com: “As a platform company, our market is typically global and we see many opportunities to scale our business. Over the past months we have been looking at the possibility to obtain a listing and this agreement not only secures access to the capital markets, but also provides substantial growth capital for our strategy acceleration and business expansion.
Together with our supervisory board we have carefully assessed the business combination with DSCO and concluded this is a logical and attractive next step, given the stage of development we are in and the current business momentum. The support and strong pre-deal commitment from various recognized Dutch entrepreneurs and entrepreneurial families as a new long-term oriented investor base is a great benefit to us and we welcome Teslin, a well-known Dutch institutional investor in small and midcap companies, on board. We remain fully focused on growing CM.com and strengthening our position as a listed global leader in Conversational Commerce.”
200109 CM.com Joint Press release - CM.com to list on Euronext Amsterdam following business combination with Dutch Star Companies ONE.pdf
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