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DUET Acquisition Corp. (NASDAQ: DUET, DUETW, DUETU) announced the termination of its business combination agreement with Anteco Systems, S.L. This decision was communicated through a written notice, prompting DUET to search for alternative business combinations.
As a special purpose acquisition company, DUET focuses on acquiring middle market technology firms specializing in eCommerce, FinTech, Big Data & Analytics, and Robotic Process Automation (RPA). The management team, led by chairman Larry Gan Nyap Liou and co-CEOs Dharmendra Magasvaran and Yeoh Oon Lai, has extensive experience in digital enterprises and consulting.
This press release includes forward-looking statements about DUET's future business targets and strategic direction.
AnyTech365, a leader in IT security and support, has entered into a business combination agreement with DUET Acquisition Corp (NASDAQ: DUET, DUETW, DUETU). This transaction values AnyTech365 at a pro forma market capitalization of approximately $287 million and provides up to $77.1 million in cash for growth and operations. The merger, expected to close in Q4 2022, aims to leverage increased demand for subscription-based Technical Support as a Service (TSaaS). AnyTech365 plans to expand its partnership with Media Markt and pursue further acquisitions to enhance its service offerings.
DUET Acquisition Corp. announces that holders of its IPO units (8,625,000 sold on January 24, 2022) can now separately trade shares of Class A common stock and warrants, effective March 14, 2022. These units will trade under symbol DUETU, while separated Class A shares and warrants will trade under DUET and DUETW, respectively. The offering, based on a registration statement filed with the SEC, emphasizes the company's efforts to facilitate business combinations.
DUET Acquisition Corp. (Nasdaq: DUETU) successfully closed its initial public offering, raising approximately $86.25 million. The offering consisted of 7,500,000 units at $10.00 each, including an over-allotment of 1,125,000 units. Each unit comprises one Class A common stock and one redeemable warrant. The units began trading on January 20, 2022, and will separate into shares and warrants under the symbols DUET and DUETW, respectively. The company aims to identify a business combination primarily focusing on enabling technology sectors.
