Bercman Technologies, a Nasdaq First North listed deep-tech company developing traffic safety solutions, intends to acquire Krakul, Estonia’s leading IoT and autonomous systems development company. TRINITI partner and co-head of the Transport & Infrastructure practice group Tõnis Tamme together with associate Peeter Mõtsküla, head of the TRINITI Start-Up practice group are advising Krakul and its parent company Krakul Holding in all legal matters related to the transaction.
Photo: Raul Mee
Jaan Hendrik Murumets, CEO of Krakul: “This is a logical step for us to grow further. We share the same values and mission with Bercman, and their team has strong competencies in machine learning, machine vision, and a strong sales organisation. Unifying the two teams allows us to develop new products and services, expand into export markets and win new customers.” Krakul’s developments include stereo cameras for NASA’s lunar mission, smart insoles, smart beer bottle openers, bicycle parking systems, delivery robots, and autonomous vehicles.
The acquisition of Krakul is part of Bercman’s strategic goal to expand its engineering and software team into developing intelligent transportation systems. Mart Suurkask, CEO of Bercman Technologies: “The two companies share common goals to make the world a better place through technology. Bercman develops intelligent traffic solutions, Krakul develops IoT and autonomous systems. The merger of the companies would create synergies that would allow us to jointly develop and market new services in the field of autonomous vehicles and intelligent traffic solutions.”
Bercman and Krakul’s parent company (Krakul Holding OÜ) concluded a conditional swap for a share of Krakul and shares of Bercman Technologies so that Bercman would acquire 100% shares of Krakul. The acquisition shall be paid for by Bercman shares.