Alpha Star Acquisition entered into a non-binding letter of intent for a business combination with Cyclebit Group.
Founded in 2012, Cyclebit is a global payments and SaaS provider. Its core products include card acquiring, point-of-sale services and marketplace solutions. The company has offices in Toronto, Miami, Stockholm and Ho Chi Minh City.
Under terms of the LOI, Cyclebit’s existing equityholders would roll 100% of their equity into the combined public company. Additional details are expected to be announced when a definitive agreement is executed, likely in the fourth quarter.
Alpha Star raised $100 million in its IPO last December, with plans at that time to target companies in Asia. Read more.
