Cyber_Folks and Shoper merge to form e-commerce group

The Polish IT companies cyber_Folks and Shoper announced their merger plans on May 21, thereby strengthening their position as the leading provider of e-commerce technologies in Central and Eastern Europe. The market capitalization of the merged company is estimated at around 1 billion euros. With the merger, the companies want to simplify their group structure and thus become more attractive for international investors. "Following discussions with our investors, we have decided to merge Shoper and cyber_Folks. We are simplifying the group structure, which was at times too complex, particularly from the perspective of foreign investors. This will create a larger company with higher market capitalization, larger free float and significantly higher share liquidity, which should increase interest from global technology funds and institutional investors," explained Jakub Dwernicki, CEO of cyber_Folks and Shoper, according to a press release. He added: "The synergies of expertise, technology and scale will enable us to build a European market leader in e-commerce technology faster and become more competitive internationally." Simplification of the Group structure Cyber_Folks, a medium-sized company listed on the Warsaw Stock Exchange, currently holds 49.9% of the shares in Shoper, which is also listed on the stock exchange. The market capitalization of cyber_Folks is PLN 3.04 billion (EUR 717 million), that of Shoper PLN 1.24 billion (EUR 292 million). According to the companies, the merger should significantly increase international visibility and attract new institutional investors. The merger will take place by transferring all of Shoper's assets to cyber_Folks. At the same time, the share capital of cyber_Folks will be increased by issuing new shares to the shareholders of Shoper. Shoper shareholders will receive new shares at a ratio of 0.2281 to 1, which means that each Shoper share will be exchanged for 0.2281 cyber_Folks shares. Focus on AI and e-commerce technologies The merged company plans to build a comprehensive technology ecosystem for the European e-commerce market. This includes sales platforms, payment processing, logistics, communication, automation and AI solutions to support the entire online sales process. The companies see the merger as an important step towards further expansion in the European market and strengthening their competitiveness in the international technology sector. The post Cyber_Folks and Shoper merge to form e-commerce group appeared first on ostwirtschaft.de.