Sisecam’s partnership with ICRON, a Turkish technology company that provides decision optimization services at operational and strategic levels, has been completed.
According to the statement made by the company, the share purchase of Sisecam Investment B.V., a 100% subsidiary of Sisecam, from the Turkish technology company ICRON took place with the closing general assembly held today.
Sisecam Investment B.V. General Assembly was attended by Sisecam Chairman and Executive Member Prof. Dr. Ahmet Kirman, Sisecam General Manager Gorkem Elverici, ICRON Founding Partner Tamer Unal, ICRON Chairman and Chief Executive Officer Gurer Unal and ICRON Board Member Ahmet Ertugrul.
As a result of the transaction, 3% of ICRON’s shares were purchased by Sisecam Investment B.V. for $3 million. Simultaneously with the share purchase, it was also decided to increase ICRON’s capital by $5 million, with participation only by Sisecam Investment B.V. With this capital increase, Sisecam Investment B.V.’s share in ICRON will increase to 15.66%.
Sisecam, which signed a letter of intent to invest in ICRON, which provides operational and strategic decision optimization services to different sectors in the first half of 2023, announced in October 2023 that it had reached an agreement on partnership with ICRON. Within the scope of the agreement approved by the Competition Board, Sisecam also holds the purchase option right, which will allow it to increase its total share in ICRON up to 49% in the future.
With this partnership, which is its first investment in the field of software technologies, Sisecam aims to grow with ICRON, which has high potential, and to take the operational excellence and optimization approach in its current activities to the next level.
ICRON is included in the 2023 list of the “Magic Quadrant for Supply Chain Planning Solutions”, which includes the top 20 companies on a global scale by Gartner, one of the world’s respected technology research and consultancy organizations and ICRON is expected to contribute to both operational and financial performance with its digital infrastructure strengthened by Sisecam and its quality approach that fully meets the needs of the day.
Source: AA / Prepared by Irem Yildiz