We advised CyanConnode Holdings plc on its recommended £36.5 million takeover by Esyasoft Technologies UK Limited, a wholly owned subsidiary of Esyasoft Holding Limited and ultimately owned by International Holding Company PJSC. The transaction was implemented by way of a court-sanctioned scheme of arrangement.
CyanConnode is a global provider of Internet of Things communications and smart metering solutions, with a strong presence in India's rapidly expanding smart metering market.
Esyasoft is a global energy transition technology group delivering integrated solutions across smart utilities, software, analytics and AI, Energy-as-a-Service, e-mobility and battery energy storage systems.
The transaction marks a significant milestone in CyanConnode's journey, providing access to additional resources and support to accelerate growth and enhance the delivery of its existing order book and pipeline of opportunities.
Heather Peacock, CFO of CyanConnode Holdings plc, said:
Joining the Esyasoft Group marks a significant milestone for CyanConnode, providing the Company with the capital, scale and international reach to accelerate the delivery of our substantial order book and pursue the significant opportunities we see across India's smart metering market and internationally. I would like to thank the entire team at Fladgate, whose expertise and support helped make the transaction a seamless process."
Tessa Trevelyan Thomas added:
It was a pleasure to advise CyanConnode on this important transaction and to work closely alongside Strand Hanson, the company's financial adviser, to provide joined-up advice during this key period of transition.
The Fladgate team was led by Tessa Trevelyan Thomas and included Alex Kaufmann, David Robinson, Orit Rioumine Gold, Hamilton Forrest, Mike Lanning, Tyler Hilborne and Alex Hayes.
