Global Tech team advises on major acquisition by leading US blockchain investment company

3 minute read
22 November 2022

A team of lawyers from our global Tech team has advised Blockchain Coinvestors Acquisition Corp. (BCSA), a special purpose acquisition company (SPAC), with respect to a deal to acquire financial technology company Qenta Inc.

The transaction includes an implied combined pro forma total enterprise value of approximately $622 million, assuming no shareholder redemptions.

Qenta is a global company that elevates the world's citizens and businesses through its frictionless, accessible, secure, and compliant financial ecosystem. With a vision to digitize all the world's assets and transactions, the company started with a focus on the precious metals sector. By introducing digitized Responsible Gold™, and multiple recognitions for ESG, innovation, and Shariah compliance, Qenta brought gold into the digital age as an efficient store of value and gave it true utility as a medium of exchange.

Davey Brennan, partner and co-chair of global Tech at Gowling WLG, led the deal team on the transaction, which included Abby Parkin, associate (London), Alexandre Brazeau, partner (Dubai), Jon Parker, partner (Dubai), Simon Elliot, principal associate (Dubai), Samantha Yung, senior associate (Dubai), Joy Kadi, associate (Dubai) and Beth Bloor, associate (Dubai). The team was assisted by the firm's network of best friend firms in Austria, Bosnia, Brazil, Cayman Islands, Germany, Ghana, Pakistan and Switzerland. Our team worked closely with co-counsel lead firms Pillsbury Winthrop Shaw Pittman LLP and Perkins Coie LLP.

Davey said: "The acquisition involved numerous countries and time zones and was a fantastic transaction to work on alongside our co-counsel firms in the US. The deal is further evidence of our global tech capabilities and ability to handle multi-jurisdictional deals thanks to a combination of our brilliant people across our international platform operating as one team, and the strength of our country desk network."

Gowling WLG's global Tech team is a trusted adviser to tech businesses around the world, from start-ups to global players. The firm's Corporate team has extensive experience across the full spectrum of corporate advice including equity capital markets, investment funds, private equity and both public and private mergers and acquisitions.

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