A Canadian holding company called GoverMedia Plus Canada Corp has shown interest in purchasing EXMO. EXMO is presently one of the biggest cryptocurrency exchanges in Europe, and the Canadian holding company signed a Letter of Intent (LOI) with them already. For now, that letter will provide an opportunity for GoverMedia to negotiate, prohibiting other companies from interfering.
CEO of GoverMedia, Roland Bopp, commented on this potential acquisition, saying, “I am very pleased to announce the intended business combination with EXMO one of the largest European cryptocurrency exchanges. This is a further step in the Company’s publicly announced strategic partnership. After the successful completion of the business combination, the company will have over 2.0 million active users and provides an excellent platform to further increase revenue and improve operating results in European, North American and Asian markets.”
Based on the LOI, the companies have 180 days to negotiate the potential terms of the acquisition. When, or if, the agreement is made, then EXMO will be acquired by GoverMedia, though the company will be responsible for continuing EXMO’s business, according to a statement.
The LOI dictates that both of the parties involved will be working to create a fair structure for the acquisition, complying with both the legal requirements and the applicable regulations. Furthermore, the statement says that one of the priorities for this agreement is that the solution is cost-effective for both sides.
After the agreement is made, the final structure of the EXMO acquisition will outline an agreement between the companies. The new agreement is expected to include many issues that typically arise in these scenarios, like warranties, covenants, and more.
CEO of EXMO, Sergey Zhdanov, spoke on the acquisition process, saying, “At EXMO, we see this combination as a perfect opportunity to strengthen our team and raise our influence on the universal cryptocurrency market.” He continued, adding, “We are very excited about this partnership because it provides us deeper insights for decision-making purposes and brings our clients best infrastructure and maximum security. This combination will assist us to achieve one of our main targets: becoming one of the most credible and reliable businesses on the crypto market.”