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LIV Capital Acquisition Corp. (LIVK) has completed its business combination with AgileThought, a provider of digital transformation services. AgileThought will now trade on Nasdaq under the tickers AGIL and AGILW, with a market capitalization of approximately $420 million. The combination resulted in total equity capitalization of $91.5 million, including $53.3 million in gross cash proceeds. Existing AgileThought shareholders own 87.2% of the combined company. Proceeds will be used to repay debts and for general corporate purposes as AgileThought aims to drive shareholder value as a public entity.
AgileThought, a global provider of digital transformation services, announced preliminary results for the first half of 2021, highlighting significant growth.
They secured 17 new clients and achieved total bookings of $104M, a 73% increase compared to the same period in 2020. Revenue reached $76.2M, with a consistent upward trend. The company also reported the addition of 721 employees and plans to grow its workforce by over 1,000 in the latter half of the year. AgileThought is set to merge with LIV Capital Acquisition Corp. (NASDAQ: LIVK), changing its name to AgileThought upon completion.
AgileThought and LIVK have announced a definitive business combination agreement, transitioning AgileThought into a publicly traded entity on Nasdaq under the new ticker symbol 'AGIL'. The anticipated market capitalization of the combined company is approximately $491 million. CEO Manuel Senderos highlighted that this merger will enhance AgileThought's financial standing and capitalize on growth opportunities within the digital transformation sector. LIVK's CEO Alex Rossi emphasized the strategic partnership, focusing on synergies between the U.S. and Mexican markets.
