Sell-side advisory

AZ Capital advises Keonn Technologies on its strategic partnership with Novanta Inc.

AZ Capital is pleased to announce that it has acted as exclusive financial advisor to Keonn Technologies in its strategic partnership with Novanta Inc. (NASDAQ: NOVT), a US-listed global supplier of core technology solutions for the medical and advanced industrial sectors.

Founded in 2008 and headquartered in Barcelona, Keonn Technologies is the innovation leader providing the most complete, seamless and advanced set of RFID-based solutions to evolve the customer experience and store operations towards a data-driven unified commerce model. Keonn’s unique value proposition of being a one-stop shop offering a holistic ecosystem with a client-focused operational model, where innovative products, quality, seamless integration and customization are at their core DNA, has resulted in Keonn being the go-to supplier of sensor and data processing solutions for the largest retailers and retail system integrators.

This strategic partnership with Novanta will reinforce Keonn’s future growth, support its manufacturing capacity and technologically contribute towards a sensor-fusion solution to meet the rising global demand for RFID and IoT technologies in physical stores. On the other hand, the integration of Keonn strategically complements Novanta’s existing capabilities in RFID technologies while also expanding its presence into the retail sector, which is expected to unlock many cross-selling opportunities. Keonn’s founders, together with their management team, will continue to lead the company within Novanta’s structure.

Ramir de Porrata-Dòria, co-founder and CEO of Keonn Technologies, stated: “AZ Capital’s support was exceptional throughout every stage of the process –from the preparation phase to the final negotiations–. The direct and constant involvement of all the team, their outstanding attention to detail, and their ability to anticipate challenges were key to maximizing value for Keonn and its shareholders. We are truly grateful for their dedication and commitment in such a meaningful transaction for us.”

Rafael Pous, co-founder and CIO of Keonn Technologies, noted: “AZ Capital’s advisory throughout the process was key to unlock Keonn’s full potential. They demonstrated exceptional coordination capabilities, expertly managing the complexity of working with major international technology players. This was strategically instrumental in achieving the optimal outcome for all parties involved. We had the best possible partner guiding us through the process.”

Víctor Mata, Partner at AZ Capital, added: “This transaction reinforces our leadership in advising technology companies, where we continue supporting innovative companies like Keonn in achieving their strategic objectives. At AZ Capital, we are proud to have supported a transaction that promises to transform retail digitalization on a global scale.”

Sector: Technology