XBP Europe, the European business of Exela Technologies, and CF Acquisition VIII today announced a definitive merger agreement at an enterprise value of $220 million.
If approved, XBP Europe Holdings is expected to be publicly listed on the Nasdaq under the symbol XBP. The deal is expected to close in the first half of 2023.
XBP Europe is a pan-European integrator of bills and payments connecting buyers and suppliers, across industries and sizes, to optimize the clients’ bills and payment processes in order to advance digital transformation, improve market wide liquidity and encourage sustainable business practices.
Financial details on the deal were scant in the press release. The SPAC, which is sponsored by Cantor Fitzgerald, raised $220 million in a March 2021 IPO. Read more.
