New York City, NY March 14, 2023 (Issuewire.com) – Worldwide Webb Acquisition Corp. (NASDAQ: WWAC), a publicly traded special purpose acquisition company, Aark Singapore Pte Ltd and its subsidiaries (“Aeries Technology” or “Aeries”), a global professional services for business leadership and consulting partner. The team, private equity sponsors and their portfolio companies today announced they have entered into a definitive merger agreement that will make Aeries Technology a publicly traded company.
Corporate executives and leadership teams, including top private equity sponsors and their portfolio companies, are demanding greater operational efficiency, greater flexibility, and more consistent and reliable results, and Aeries was specifically appointed to meet them. It has its own adjusted needs. A global professional services and consulting partner with a deep pool of talented employees specializing in technology services, business process management and digital transformation initiatives. The Aeries team offers a variety of end-to-end and creative business solutions to help international companies reach their goals faster, at a fraction of the cost of hiring internal staff. In addition, Aeries provides professional services in various industries such as IT infrastructure, finance and accounting, process automation, business systems, and implementation of emerging technologies including opportunities for overall organization optimization while integrating with the client’s organizational structure. expanding the practice of .
Led by successful businessman Raman Kumar, the highly skilled Aries management team has worked together for 20 years and has a number of successful ventures, including the former Nasdaq-listed M-Modal, which was sold to One Equity Partners in 2012. I have built a company. Aeries Technology has achieved positive cash flow status in just two years after its establishment. Ten years later, the company boasts partnerships with reputable companies including the technology sector’s top private equity firms and their portfolio companies, 1,500 employees and growing profitability. Aeries Technology’s streamlining and business process management solutions deliver an average of 65% annual customer savings. The company prides itself on a dedicated team operating under a differentiated engagement model, partnered with cutting-edge technology and analytics solutions that transform the cost and operational structure of client organizations.
“We believe that the opportunities provided by this transaction will help us drive our projected growth and achieve our mission of providing superior solutions to our clients, and therefore Aeries has decided to enter the public market. We are excited to join Aeries Technology Experts across our team, from technology to finance, operations and HR, helping build in-house solutions to our most complex challenges through our “one team” culture. We want to revolutionize the way companies outsource technology and business process services by seamlessly integrating . This approach allows our clients to face the challenges that may arise in the future, effectively meeting the challenges of today’s short business cycles and competitive environment with specially selected high quality personnel for placement. can. Companies around the world are looking to control costs while advancing mission-critical digital transformation initiatives. Aeries is the perfect partner to help management achieve business goals while continuing to optimize budgets. We look forward to joining forces with the Worldwide Webb team and believe we have found the right partner to enter the public market. ”- Aeries CEO Sudhir Panikassery
“Our team has been very impressed with Aeries Technology’s track record of proven results and their unique and innovative approach to solving customer problems. Possessed to improve its sex profile, making it an ideal target to go public in today’s market, Aeries is able to maintain a very low cost structure for its own while maintaining a strong portfolio of portfolio companies and their private equity. We have shown that we can employ extraordinary talent to tackle the complex problems presented by our sponsors in a cost-effective manner.With our unique business model and collaborations with major corporate and financial sponsors, we have a huge addressable We are very excited to be working with the Aeries Technology team and look forward to a successful partnership.” Daniel Webb, CEO of Worldwide Web Acquisition Corp. said:
Assuming that Webb Acquisition Corp. does not redeem its shares and does not add $50 million in new capital, the business combination will result in a value of Aeries Technology of $656 million. 3.75 million shares are available and investors are encouraged to retain their shares after the transaction closes. Existing Aeries shareholders have contributed all of their shares to the transaction.
The proposed transaction has been approved by the boards of directors of both Worldwide Webb Acquisition Corp. and Aeries Technologies. Worldwide Webb stockholder approval and other customary closing requirements are prerequisite to the closing of the proposed merger transaction.
Additional information about the proposed transaction, including a copy of the business combination agreement and an investor presentation, provided in the current report on Form 8-K, was filed by Worldwide Webb with the U.S. Securities and Exchange Commission (“SEC”). I’ll submit it. It is available on the Worldwide Webb’s Investor Relations website (www.wwac1.com) and the SEC’s website (www.sec.gov).
About Aries Technology
Aeries Technology has an engagement model created to provide the right combination of deep vertical expertise, functional expertise and the right systems and solutions to extend, optimize and transform our clients’ business operations. is a global professional services and consulting partner. Transformation mode and stakeholders, including private equity sponsors and their portfolio companies. Founded in 2012, Aeries Technology currently employs over 1,500 people and boasts a number of prominent private equity sponsors and their portfolio businesses, among clients such as Alegeus, Stratus and Newfold Digital. increase.
About Worldwide Webb Acquisition Corp.
Daniel, former technology investment banker and private equity investor, to effect a merger, capital exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more companies or assets Webb founded the Worldwide Webb Acquisition Corp. .
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Tag : Worldwide Web Acquisition Corporation , Final Merger Agreement , corporate merger , technology merger