BELGRAVIA & CO., an international and independent M&A and Corporate Finance advisory firm with offices in Cologne and New York City, exclusively advised stock-listed paragon GmbH & Co. KGaA (“paragon“, www.paragon.ag), on the acquisition of 82% of the shares in SemVox GmbH („SemVox“ www.semvox.de). SemVox is a leading B2B technology supplier for proactive assistants based on Artificial Intelligence and Machine Learning.
The sellers are the four founders of SemVox GmbH and four investors, including the German Forschungszentrum für Künstliche Intelligenz GmbH, Saarbrücken, and the M. Ladendorf Beteiligung GmbH, Trier. SemVox GmbH was founded ten years ago as a spin-off of the German Research Center for Artificial Intelligence (Saarbrücken).
The four founders will continue to hold shares in the company for at least three years and will assume management and executive functions. Thereafter, the 18 percent of the shares in the company still held by them can be acquired by paragon GmbH & Co. KGaA or tendered to paragon GmbH & Co. KGaA.
The transaction represents the execution of paragon’s announced entry into the digital business. Together with SemVox, paragon will expand its product portfolio and enable OEMs to obtain complete solutions for speech assistance systems from a single source.
The total consideration for the acquisition of 82% of SemVox is EUR 16.4m. paragon secured an option to acquire the remaining 18% of the SemVox shares.
The transaction is expected to be completed by the beginning of October 2018 at the latest.
BELGRAVIA & CO. acted as exclusive financial advisor to paragon on this transaction.