Bercman Extraordinary General Meeting approves acquisition of Krakul

Extraordinary General Meeting of Bercman Technologies, a Nasdaq First North listed deep-tech company developing traffic safety solutions approved the acquisition of Krakul, Estonia’s leading IoT and autonomous systems development company. Altogether 17 shareholders of Bercman participated at the extraordinary general meeting of shareholders, the shares held by them represented 78.9% of all the votes represented by shares.

Kuldar Leis, Chairman of the Supervisory Board of Bercman Technologies, was very satisfied with the resolution. “We are pleased that Bercman’s shareholders supported the decision and saw that Bercman can achieve its business goals and increase value quicker with Krakul,” said Leis.

Mart Suurkask, Chairman of the Management Board of Bercman, added that now companies can start jointly developing and marketing new services in the field of autonomous systems and intelligent traffic solutions. “Krakul is the number one engineering office in Estonia and so far we have had excellent cooperation with them. We now have all the competencies within the group to bring the smart solutions of the future to the market faster,” added Suurkask.

Krakul’s CEO Jaan Hendrik Murumets will now join Bercman’s management board in addition to leading Krakul and will lead the engineering team as CTO. “Our aim has always been to make big and cool projects in Krakul that benefit our customers and end-users. Joining Bercman gives us access to new markets, customers, and the opportunity to do big international projects – so in a sense we are now even more in Krakul than before,” said Murumets.

Bercman shares shall pay for the acquisitions. Bercman’s extraordinary general meeting approved the conclusion of the transactions and permitted an increase of share capital and the issuance of new shares to pay for the acquisition.

Krakul will continue its independent economic activities, including research and development, and the company’s management will remain the same.