Finance

Blank-check firms eye deals in Europe’s tech sector

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The bronze Charging Bull in the financial district of New York City.

Robert Nickelsberg | Getty Images

 LONDON — The SPAC craze is starting to gain some momentum in Europe.  

After a banner year for so-called special purpose acquisition companies in the U.S., a growing number of blank-check firms are raising funds with the intention of snapping up a European tech company.

SPACs are shell companies that are created with the sole purpose of raising funds to acquire an existing private company, so that the target firm can bypass the traditional initial public offering (IPO) process.

These blank-check companies raised a total of $78.2 billion across 244 IPOs in the U.S. last year, according…



Source cnbc.com

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