Squair advises Aitenders and its shareholders on its sale to the Canadian company eXeBlock Technologies, listed on the Canadian Securities Exchange

The law firm Squair (Renée Kaddouch-Kulbach for M&A, Sandra Chapart for employment law, and Maria Lancri for compliance) advised the French company Aitenders and its shareholders on its sale to the Canadian company eXeBlock Technologies Inc., listed on the Canadian Securities Exchange (CSE), executed as a reverse takeover (RTO).

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The transaction, carried out through a share exchange, allowed Aitenders' shareholders to take control of eXeBlock Technologies Inc., now renamed Aitenders Technologies Inc., while Aitenders became its wholly-owned operating subsidiary. It was followed by a 2.4 million Canadian dollar capital raise from market investors in Canada.

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Aitenders develops and markets an artificial intelligence-based solution that helps companies respond more easily to complex calls for tenders.

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To our knowledge, this transaction is one of the very first cross-border reverse takeovers allowing the shareholders of a private French operating company to take control of a foreign listed company.