Modern Media Acquisition has agreed to merge with Akazoo in a deal that values the combined companies at approximately $469m. According to the terms of a definitive agreement, the pair will combine under a new company, domiciled in Luxembourg, which plans to list on Nasdaq upon completion of the deal. The transaction is expected to close by mid-2017.
Modern Media Acquisition has agreed to merge with Akazoo in a deal that values the combined companies at approximately $469m. According to the terms of a definitive agreement, the pair will combine under a new company, domiciled in Luxembourg, which plans to list on Nasdaq upon completion of the deal. The new entity will be led by Akazoo’s management team, headed by founder and CEO Apostolos N. Zervos, while Modern Media chairman and CEO Lew Dickey will be appointed as chairman.