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New Deal


Announced

Super Apps to go public via a SPAC merger with Technology & Telecommunication Acquisition in a $1.1bn deal.

Financials

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Transaction Value£971m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Merger

Indonesia

Cross Border

social commerce platform

Online and Social Platforms

Private

De-SPAC

Reverse Takeover

Acquisition

Pending

Friendly

Single Bidder

Majority

Synopsis

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Super Apps, a developer of a social commerce platform, agreed to go public via a SPAC merger with Technology & Telecommunication Acquisition in a $1.1bn deal. "We are excited to enter the public markets through our business combination with TETE. The proceeds from the business combination, combined with our leadership team’s significant fintech industry experience, will allow Super Apps to accelerate growth in revenue through the expansion of its workforce, including sales and marketing headcount. We believe this transaction will enable us to continue investing in our technology infrastructure and deliver on our aspirations to be the unrivaled payment systems provider in the ASEAN market," Loo See Yuen, Super Apps CEO.

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