Verifyyed, a Beverly Hills-based startup, is set to list on the London Stock Exchange after a £97m acquisition by Acceler8 Ventures.
- The deal involves suspending Acceler8’s current listing to raise £10-20m in growth capital, followed by relisting as Verifyyed.
- David Williams, Chairman of Acceler8, expressed enthusiasm about supporting Verifyyed’s growth and development.
- Director of Verifyyed, David van Herwaarde, highlighted the milestone as a strategic move to access growth capital.
- Verifyyed operates in the $8 billion sync and royalty industry, aiming to enhance transparency and revenue for rights holders.
A California-based startup, Verifyyed, is slated for a significant move to list on the London Stock Exchange. This decision follows its £97 million acquisition by Acceler8 Ventures, a company already listed in London. The acquisition underscores the vitality and growth potential seen in Verifyyed’s business model.
The transaction process involves Acceler8 temporarily suspending its current London listing to facilitate the raising of growth capital. The aim is to generate between £10 million and £20 million, which will aid in scaling Verifyyed’s operations. Once regulatory approval is secured, the firm will re-list under the Verifyyed name, marking a new chapter in its corporate journey.
David Williams, Chairman of Acceler8, conveyed his excitement about the agreement. His statement, “We are delighted to have reached agreement with Verifyyed and have the opportunity to bring to London such an exciting, high growth technology company,” reflects the strategic value they see in this move. Williams also mentioned the considerable growth prospects inherent in the business, indicating confidence in future developments.
David van Herwaarde, Director of Verifyyed, remarked that this acquisition marks a pivotal moment for the startup. He stated, “Following completion of the Proposed Acquisition, our London listing will provide a platform from which we can access further growth capital, ideally positioning the business between our two major markets of the US and Europe.” This move is poised to strategically position Verifyyed to leverage opportunities across its primary markets effectively.
Verifyyed specialises in the sync and royalty industry with a focus on simplifying the music sync licensing process. The platform offers a marketplace for premium content licensing alongside services for royalty tracking, administration, and collection. By enhancing transparency for rights holders, Verifyyed aims to increase royalty revenues and speed up payment collections.
Verifyyed’s listing on the London Stock Exchange marks a strategic advancement in its growth and market expansion plans.
