STOCKHOLM IT VENTURES AB ACQUIRES THE RAPIDLY GROWING FINTECH COMPANY SPRINKLE AB
STOCKHOLM, SWEDEN (April 26th, 2019) – Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB – ISIN SE 0006027546) announces that it has agreed to acquire the rapidly expanding Swedish FinTech company Sprinkle AB, which has recently been experiencing strong growth both organically, as well as through the acquisition of other companies and a growing, global network of customers and investors who are increasingly becoming more digitized in their everyday lives.
The purchase price is to be paid in the form of a maximum of 680 million shares of Stockholm IT Ventures AB to be issued. The transfer of the shares is supposed to be done in two steps. The company expects a closing of the transaction within the next weeks.
The business operations of Sprinkle AB, all positioned with a strong sustainability perspective, are strategically placed around the world through the business model Sprinkle Fusion Power ™, where the separate companies are merged under one IT and management system. By sharing knowledge, technology and resources, Sprinkle creates exponential cross-value for customers and shareholders through the integration of Artificial Intelligence and Blockchain technologies, along with the development of proprietary technologies, including the company’s LIBER8 crypto currentcy token, security tokens and mobile application solutions. This makes Sprinkle a pioneer in the Fintech 2.0 industry.
Sprinkle AB has several complementary business areas such as Sprinkle Media, with solid journalist and media expertise. Another core business is Raise Reach by Sprinkle, which has developed a crowdfunding platform, one of the absolute best on the market, which gives the company unlimited opportunities to satisfy customers’ needs, whether they want to carry out media campaigns, become listed on a stock exchange, execute a fundraising or increase their number of shareholders.
Sprinkle AB is also active in Africa through its business Blockhomes in Burundi, that is creating renewable energy resources solutions, access to high-speed Internet, sustainable housing and tourism, in parallel with establishing and developing modern business opportunities based on blockchain technology.
Sprinkle AB is profitable and shows a financially successful and rapidly growing business model. With the integration into the SITV-Family it will add a substantial earning base to the groups consolidated profitability as well as to its equity position.
“At Sprinkle, we are very excited about Stockholm IT Ventures, not only for their driving entrepreneurship, but also for their expertise, leadership and portfolio of state-of-the-art crypto currency products. Through collaboration with Stockholm IT Ventures, Sprinkle can now market the company much faster in the rapidly growing crypto currency and blockchain markets. Stockholm IT Ventures will utilize Sprinkle’s large marketing and investor channels, which makes it a real win-win situation for both companies.”- Ian Cassiman, CEO of Sprinkle AB.
“We look forward to welcome Sprinkle into the SITV family of businesses and working closely with the Sprinkle team. We see great value in the services that Sprinkle provides through its investment network and marketing expertise. Through the acquisition of Sprinkle we are well on our way to become the market leader in the Fintech 2.0 marketplace.” – Bert Scheen, CEO of Stockholm IT Ventures AB.