Skriware has signed a letter of intent with the Danish company Shape Robotics

Skriware has signed a letter of intent with the Danish company Shape Robotics, the company said. According to the provisions of the non-binding letter of intent, it is planned that Skriware shareholders will take up shares in Shape Robotics in exchange for shares in Skriware. The aim of the initiative is for the Polish company to obtain strong support in its international expansion and for it to become a software development center in the edtech sector.

The mission of Shape Robotics, similarly to Skriware, is to support the development of education in the spirit of STEAM and to popularize the teaching methodology, which consists in acquiring knowledge through experience and learning creative problem solving. The Danish company, which has been present on the market since 2017, specializes in designing educational kits that help students build robots. After the successful completion of the share swap, Shape Robotics plans to take advantage of the proven business model successfully implemented in Romania and scale it to the larger and more promising Polish market, it was reported.

“We believe that the planned transaction reflects the strength of the product, the leading position in Poland and the potential of the Skriware team. Thanks to this move, we will provide a lot of team and financial support in building international sales channels, and we will make Skriware a software development center. We will join forces to build the common stock market value of the edtech market leader in the area of STEAM, 3D printing, robotics and e-learning for schools,” said Karol Górnowicz, president of Skriware, quoted in the release.

The similarities resulting from the specificity and global scale of operations, as well as access to financial and human resources resources, mean that the planned share exchange transaction opens the door for Skriware to dynamic development on the international arena. The conclusion of the letter of intent with Shape Robotics is also a confirmation of the strong position on the market, which the Polish company has been consistently building for 7 years, it was emphasized.

According to the letter of intent, the Danish company, which is listed on NASDAQ Nordic, has the exclusive right to negotiate the terms of the acquisition of Skriware shares until December 1, 2023. The exact number of new shares issued in connection with the planned acquisition transaction will be determined on the basis of the final valuation and will depend on negotiations, conclusion of final contracts and successful completion of due diligence. It is scheduled to start in August this year. The assumed completion date – after meeting the conditions listed above – of the share exchange transaction is the fourth quarter of 2023.

Skriware is a Polish company operating globally in the EdTech industry, which provides teachers and children with learning tools based on the practical use of innovative technologies. The company has created its own educational laboratory SkriLab, based on: 3D printing and modeling, educational robots, programming tools and an online platform dedicated to teachers, which combines the development of soft and technical skills. Skriware delivers its solutions to over 4,000 companies. schools in Poland, while the company is dynamically developing a global network of business partners, including in the Czech Republic, Romania, Italy and the Middle East.

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