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Notable Consumer Electronics M&A Transactions
March 22, 2018: Harvia (HARVIA), a manufacturer of sauna heaters and sauna benches intended to offer a unique sauna and spa experience. The company raised EUR 51.3 million in its initial public offering on the NASDAQ Helsinki stock exchange under the ticker symbol of HARVIA on March 22, 2018. A total of 10,265,165 shares were sold at a price of EUR 5 per share. After the offering, the company was valued at EUR 93.5 million. The company issued 9,014,436 shares and the selling shareholder sold 1,250,729 shares. The total proceeds, before expenses, to the company was EUR 45.07 million and to the selling shareholder was EUR 6.25 million.
March 22, 2018: Ember (electronics), a producer of patented temperature adjustable dishware and drinkware designed to revolutionize the way the world eats and drinks, closed on $2.87 million of convertible debt financing from undisclosed investors. Earlier, the company raised $16.39 million of Series C venture funding from Scott Cutler, RJ Pitman and Robert Brunner on January 8, 2018. Other undisclosed investors also participated in the round. The company is being actively tracked by Pitchbook. The company’s dishware and drinkware includes an advanced temperature adjustable mug that enhance the the flavor of coffee or tea by choosing the temperature that tastes best and also lets the users to customize the temperature, enabling users to take control over their drinking experience.
March 21, 2018: Wileyfox, manufactures premium and entry-level smartphones with an Android operating system and smartphone accessories, was acquired by STK for an undisclosed amount.
March 21, 2018: iball, a developer of diverse computing products created to offer the latest technology-powered devices in every home and office, raised $8.5 million of venture funding in a deal led by Girik Capital, putting the pre-money valuation at $18.5 million. Other undisclosed individual investors also participated in the round.
March 19, 2018: Simx, a manufacturer of home ventilation products, lighting products and commercial ventilation products, was acquired by Volution Group (LON: FAN) for an undisclosed amount. The acquisition provides the acquirer with the right management platform to underpin their ambitious plans for further growth of the business.
March 19, 2018: Mpb.com, an operator of an online marketplace for buying and selling photography and film equipment, raised GBP 5 million of Series B venture funding from Mobeus Equity Partners and Beringea. The company will use the funds to scale up operations in the US and Germany. Earlier, the company joined Future Fifty as part of the 2018 Class.
March 18, 2018: Coocaa, an operator of an official e-commerce platform intended to provide smart TV and consumer electronics hardware, is reportedly in the process of raising RMB 1.01 billion of venture funding from Dagze Bairuixiang Venture Investment Management Co on March 18, 2018. Prior to that, Skyworth Digital (HKG: 00751) sold a 7.71% stake in the company to Tencent Holdings (HKG: 00700) for RMB 300 million on June 7, 2017.
March 14, 2018: Tech Will Save Us, a provider of make-it-yourself kits and digital tools intended to spark the creative imagination of young people, raised $4.2 million of Series A venture funding in a deal led by Initial Capital. SAATCHiNVEST, Backed VC, AllBright, New Leaf Venture Partners, Unltd-inc, Martin McCourt, Christopher Lee and Jonathan Howell also participated in this round. The company will use the funds to further scale the business, and expand the product range. The funding comes as the company prepares to launch their first partnership with Disney, which will be a Marvel Avengers themed kit inviting children to help the superheroes complete secret missions. Prior to that, the company raised GBP 884,460 of venture funding from Nordic Makers and other undisclosed investors via crowdfunding platform Business Agent on July 12, 2017, putting the company’s pre-money valuation at GBP 8.59 million. Before that, the company raised $72,114 of product crowdfunding via Kickstarter on July 5, 2017.