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Today in European Tech: big SPAC and IPO plans for ironSource, Babbel and eToro, Northvolt's $14 billion order, and more

Robin Wauters 15 March 2021
Today in European Tech: big SPAC and IPO plans for ironSource, Babbel and eToro, Northvolt's $14 billion order, and more
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Hello!

Here's what happened today in European Tech.

Deals

- Israeli app monetization company IronSource is on track to becoming a listed company on Wall Street. SPAC Thoma Bravo Advantage will reportedly attempt to raise $1 billion and potentially give IronSource a valuation of $10 billion.

- UK-based food delivery service Deliveroo is seeking to raise £1 billion by selling new shares in its upcoming IPO on the London Stock Exchange. The company announced today that some of its existing shareholders, which include Amazon and Fidelity, will also sell some of their shares.

- Israeli broker eToro, which made its name with a social trading feature, is planning for a merger with a SPAC to publicly list its shares on Nasdaq. It is reportedly looking for a listing valuation of $10 billion.

- Lesson Nine, the German company behind language-learning app Babbel, is preparing to list on the Frankfurt stock exchange in a deal expected to value it at more than €1 billion.

- Former Commerzbank CEO Martin Blessing has launched the Amsterdam IPO of a SPAC targeting the acquisition on a fintech firm. The SPAC is called European FinTech IPO Company 1 (EFIC1) and the plan is to raise up to €415 million.

- Sweden's Northvolt has received a $14 billion order as a strategic lead supplier for premium battery cells for Volkswagen in Europe. VW will at the same time increase its stake in Northvolt.

- Infinigate, a German value-added distributor for cybersecurity and cloud solutions for the SME segment, has been sold by H.I.G to Bridgepoint, an international alternative asset fund management group.

- Intelligent data automation software maker Xceptor has just been snapped up by private equity firm Astorg from CBPE Capital. Terms of the deal were undisclosed.

- UK based deep-tech company FocalPoint has closed a Series-B round which saw a fresh £6 million line the coffers. The round was fully funded by Draper Esprit.

- French HR tech company HelloWork has made a domestic acquisition by snapping up Seekube, a company that specialises in virtual recruitment forums.

- We also tracked a large number of (other) European tech funding rounds and M&A transactions, all of which we are putting in a handy list for you on Friday afternoon in our weekly roundup newsletter (note: the full list is for paying customers only). Also check out our European tech news section for ongoing coverage.

Worth Reading/Knowing

- As Europe’s tech industry blooms with the pandemic-induced shift to digital, heavyweight names in private equity are ready to gain more ground in the continent. KKR is one of them.

- UK regulator Ofcom is preparing a landmark review of net neutrality laws, one of the fundamental rules of the Internet, amid pressure from EE's boss over their worth.

- Nearly three years after a sweeping privacy law took effect in Europe, regulators are seeing more sanction decisions challenged and overturned as companies file appeals.

- What Estonia’s digital ID scheme can teach Europe.

- Russian Big Tech Yandex has launched Yandex.Pay, a payment service which can store its customers’ card details for e-commerce payments.

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Today in European Tech: big SPAC and IPO plans for ironSource, Babbel and eToro, Northvolt's $14 billion order, and more
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