Bercman Technologies to acquire Estonian autonomous systems development company Krakul
Ellex partner in Estonia Gerli Kivisoo advised Bercman Technologies on the acquisition of Krakul, a company that developed cameras for NASA’s lunar mission.
The acquisition of Krakul is part of Bercman’s strategic goal to expand its engineering and software team into developing intelligent transportation systems.
According to 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,” explained Suurkask.
Bercman and Krakul concluded a conditional swap for a share of Krakul’s parent company (Krakul Holding OÜ) and shares of Bercman Technologies so that Bercman can acquire 100% shares of Krakul. The acquisition shall be paid for by Bercman shares. The transaction shall be completed if Bercman’s extraordinary general meeting approves the conclusion of the transactions and permits an increase of share capital and the issuance of new shares to pay for the acquisition. Bercman’s extraordinary general meeting will take place on 1st December, 2021.
Krakul will continue its independent economic activities, including research and development, and the company’s management will remain the same. Upon completion of the transaction, Murumets will join Bercman’s Management Board and will be responsible for the work of the Engineering Department as Chief Technology Officer.
Bercman Technologies is a high-tech company founded in 2016, whose main activity is the development and sale of products and services that increase traffic safety. The main competence of the company is in high value-added and further developed software and knowledge in the field of activity. Bercman’s mission is to eliminate road deaths and its vision to become an internationally leading partner in the market for smart city solutions.
Krakul is Estonia’s leading developer of IoT and autonomous systems, which grew out of the ESTCube-1 project. Krakul is a design partner with long-term and versatile experience and offers complete product solutions – from idea to prototype, from prototype to production. The team has completed more than 100 international projects in the Baltics, the USA, Sweden, Mexico, Vietnam, Spain and many other countries. Among other things, Krakul is a development partner of Crystalspace, with whom they created stereo cameras that will go to the moon as part of NASA’s mission.