Shape Robotics A/S (“Shape Robotics”), listed on Nasdaq Copenhagen Main Market, and the shareholders of polish company Skriware S.A. (“Skriware”) have today entered into an investment agreement, according to which Shape Robotics acquires the entire share capital of Skriware. The Acquisition will be completed by the Skriware shareholders’ in-kind contribution of their shares in Skriware to Shape Robotics in exchange for new shares in Shape Robotics.
Shape Robotics and the Skriware shareholders have agreed on a valuation of the entire share capital of Skriware on EUR 5.1 million. Payment to the Skriware shareholders consist of 1,160,778 new shares in Shape Robotics, each with a nominal value of DKK 0.10.
Skriware is a technology company, which has created an educational laboratory – SkriLab – based on 3D printing, programming, and robotics. The laboratory includes, among others: 3D printer, educational robots, building blocks, online tools for 3D modeling and Skriware Academy – an online platform dedicated to teachers. Hence, Skriware’s offering, Skrilab, is comparable to Shape Robotics’ STEAM Labs, and the proposed Acquisition thus represents a compelling strategic fit that aligns with Shape Robotics’ long-term growth strategy.
The mission related to supporting and popularizing the development of STEAM education makes Skriware a kind of Polish equivalent of Shape Robotics. The two EdTech companies jointly plans to embrace the fast-growing market in Poland and the rest of Europe. The Acquisition provides Shape Robotics with stronger access to the Polish market and allows Shape Robotics to export the successful business model implemented in Romania and scale it to Poland’s bigger market.
Elmann advised Shape Robotics during the whole transaction process together with polish law firm, Act BSWW Legal & Tax.
