OrderYOYO has acquired the German company app smart who specialises in online software solutions for takeaway restaurants in Germany and Austria etc.
The transaction is completed as share purchase and as an exchange of shares in which app smart’s current shareholders will receive new shares in OrderYOYO equal to approx. 33.9% of the share capital after the completion of the transaction.
The closing date is on 1 July 2022 following which all the new shares will be admitted to trading on Nasdaq First North Growth Market.
Since both brands have strong positions on their respective markets, app smart will continue to be marketed in Germany, Austria and Switzerland, while OrderYOYO will continue in Denmark, England and Ireland.
With the merger, OrderYOYO and app smart will become joint market leaders on Europe’s two largest takeaway markets in England and Germany. Currently, OrderYOYO and app smart provide services to more than 9,000 restaurants.
The transaction values app smart at DKK 222 million compared to OrderYOYO’s current market capitalisation of DKK 389 million.
Accura’s team advised OrderYOYO as lead counsel in connection with the transaction.