SYDNEY, AUSTRALIA: Bigtincan Holdings Limited has entered into a Merger Agreement with Brainshark Inc. BTC Mobility Merger Sub Inc. and Shareholder Representative Services LLC to acquire 100% of the issued capital of Brainshark from the company’s shareholders.
Brainshark, launched in 1999 and located in Massachusetts, USA, is recognised as a leader in sales coaching, learning and readiness with 900+ customers and ~180 employees.
Brainshark’s data-driven sales readiness platform provides content authoring, readiness scorecards, training & onboarding and coaching & practice. Brainshark is the winner of numerous industry awards including the Gold Stevie, Sales Tool of the Year for 2021, and Top 10 Vendor Award by Selling Power Magazine for 2021.
Brainshark’s customers operate across diverse industries including financial services, insurance, healthcare, software & technology and manufacturing, including JP Morgan, CVS Health, AstraZeneca, Metlife, IBM, PepsiCo and Zoom.
The acquisition is a strong fit across all of Bigtincan’s acquisition criteria, transforming the combined business to a global leader in the sales enablement market with significant scale.
Bigtincan also announced an institutional placement and an accelerated pro-rata non-renounceable entitlement offer to raise a total of approximately A$135.3 million. The proceeds of the Equity Raising will be used to fund the acquisition, transaction, advisory and other associated fees, integration and forex contingency.
The Equity Raising will be conducted at an offer price of A$1.05 per share, which represents a 12.1% discount to Bigtincan’s last closing price and a 9.5% discount to the Theoretical Ex-Rights Price.