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New Deal


Announced

Fenix 360 to go public via a merger with DUET Acquisition in a $610 deal.

Financials

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Transaction Value£483m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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social media

De-SPAC

Singapore

Online and Social Platforms

Acquisition

Completed

Friendly

Single Bidder

Merger

Reverse Takeover

Private

Private Equity

Cross Border

Synopsis

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Fenix 360, a global social media company incorporated in Singapore that is designed to provide artists and creators with enhanced compensation, tools and control, to go public via a merger with DUET Acquisition, a special purpose acquisition company incorporated, in Delaware in a $610 deal. “The unique value proposition of FENIX360 as a hyper-agile and asset-light engagement platform with lucrative rewards for artists and fans alike provides both FENIX360 and DUET an unparalleled opportunity to reshape the creative and media space. Tapping into the substantial digital advertising and digital commerce ecosystem will bolster FENIX360’s revenue generation abilities,” Dharmendra Magasvaran, DUET Acquisition Co-CEO.

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