OXO Technologies Merges with a Finnish Investor

OXO Technologies merges with 3TS Capital Partner after acquiring majority ownership in the Finnish private equity and venture capital firm.

Based on the agreement, OXO Technologies can first acquire a minority stake by purchasing shares after financial and legal due diligence is completed. Majority ownership can be acquired next year, according to the announcement, the total purchased share does not exceed 3TS's 52 percent ownership share. The owners of the company interested in financing technology companies will contribute the remaining shares to OXO Technologies, in which they will thus become strategic shareholders.

The merged company group can significantly increase its investment activity and the amount of assets under management, so it can become one of the leading venture capital and private equity investor groups in the region - the transaction was justified. According to the announcement, the shares of OXO Technologies may be listed on other European securities markets after the Budapest Stock Exchange (BÉT), if the merger process is completed.

Based on last year's report, the company closed its fourth year with a profit after tax of 943,171 euros, in 2022 they reached 776,808 euros. Assets rose to 16.182 million euros, and retained earnings to 1.888 million euros.

The ordinary shares of OXO Technologies have been traded on the BÉT since September 2021. Their last closing value was 6.6 euros, within the last one year the prices varied between 4.6 and 8 euros.