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After months of speculation about who the second party would be, today Tier Mobility and Dott announced their merger. The deal will see both companies continue to operate under their respective brands, but executive roles and headquarters addresses are expected to change.
The combined organization will officially be based in Berlin, with Dot’s Henri Moisinac as CEO and Dot’s Maxime Romain in the role of Chief Operating Officer. , Tier’s Alex Geyer will assume the role of chief financial officer (CFO), and former Tier CEO Lawrence Leuschner will serve as CFO chairman. chairman.
The deal was backed by existing investors Mubadala Capital and Sofina, with M&G, Prosus Ventures, Novatar, Estari and White Star Capital pumping €60 million into the merger.
Other financial details about the merger were not disclosed, but in a statement released earlier today, Dottier said that the companies’ combined revenues amounted to 250 million euros and that the business was “on the verge of becoming profitable.” It’s in a good position.”
The deal is expected to close within two months, but finalization is subject to several conditions.
It was widely publicized that Tallinn-based Bolt would become Tier’s partner, and Dot CEO and co-founder Henri Moisinac said of the deal:
“By combining Tier and Dot, we are well-positioned to capture our next stage of growth and further accelerate our path to profitability. We are creating a European champion that will be carefully integrated into the cities in which we operate.”
Lead image via Dot.
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