Aeries Technology, a global professional services and consulting partner, has entered into a definitive merger agreement with Worldwide Webb Acquisition Corp. (NASDAQ: WWAC), a publicly traded special purpose acquisition company. The transaction values Aeries Technology at an implied market capitalization of $656 million, assuming no redemptions by Worldwide Webb Acquisition Corp.
The merger will result in Aeries Technology becoming a publicly listed company. The combined company will be named Aeries Technology Group and will be listed on the Nasdaq Stock Exchange under the ticker symbol “ARIES.”
Aeries Technology is a leading provider of technology services, business process management, and digital transformation solutions. The company has a strong track record of growth and profitability, and it is well-positioned to benefit from the continued growth of the global technology market.
Worldwide Webb Acquisition Corp. is a blank check company that was formed to acquire or merge with a technology company. The company’s management team has extensive experience in the technology industry, and they are well-qualified to lead Aeries Technology into its next phase of growth.
The merger is expected to close in the second half of 2023.
Benefits of the Merger
The merger between Aeries Technology and Worldwide Webb Acquisition Corp. will provide a number of benefits for both companies. These benefits include:
- Increased access to capital: The merger will provide Aeries Technology with access to a significant amount of capital, which will allow the company to accelerate its growth plans.
- Enhanced brand awareness: The merger will give Aeries Technology the benefit of Worldwide Webb Acquisition Corp.’s strong brand awareness and reputation.
- Increased shareholder value: The merger is expected to create significant value for shareholders of both companies.
The merger between Aeries Technology and Worldwide Webb Acquisition Corp. is a positive development for both companies. The merger will provide Aeries Technology with the resources it needs to accelerate its growth plans, and it will also enhance the company’s brand awareness and reputation. I am confident that the combined company will be well-positioned for success in the years to come.