We advised Nasdaq-listed fintech company Opera on the acquisition of Pocosys

05.02.2020 We advised Nasdaq-listed fintech company Opera on the acquisition of Pocosys

TGS Baltic advised the Opera group, which is listed on stock exchange Nasdaq in the USA, on entry into a contract of purchase for the acquisition of fintech company Pocosys and its sister company, a licensed payment institution, Pocopay from Poco Holding where Indrek Neivelt has a large shareholding.

We advised the client during the entire transaction from conducting negotiations regarding the contract of purchase and carrying out a legal audit to drafting transaction documents and finalizing the acquisition of Pocosys. Partners Kadri Kallas, Helmut Pikmets, Junior Counsel Mirko Kikkamägi, Attorneys-at-Law Mari-Liis Orav, Triinu Järviste, Elina Varendi and Sergei Jegorov contributed to the transaction.

The Opera group is a Nasdaq-listed Norwegian web company known best for its Opera web browser. The Opera browser has more than 350 million active users each month.

Pocosys was established in 2015. The enterprise offers banking-as-a-service solutions to fintech companies. Previously, the enterprise has licensed its financial software to enterprises in Japan, Ghana and Great Britain. As a result of the purchase, Tallinn will become Opera’s second fintech hub following Gothenburg, Sweden. The acquisition is awaiting approval from the Estonian Financial Supervision Authority. Until then, Pocopay will provide services to the Opera group.

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