With the imminent launch of the RTL+ partnership in Germany, among other developments, the future of Deezer is brighter than ever. Guillaume d’Hauteville, Chairman of the Board of Deezer, said: “Deezer has been accelerating its momentum substantially over the past months, reaching again double-digit growth in February. With Deezer, we’re going to write together the future of music streaming, with a great team, fantastic tech capabilities, a differentiated business platform and an ability to scale.” ‘The future is unwritten’ said Joe Strummer (The Clash). As a longtime investor in the media and entertainment world and a customer of Deezer, I know first-hand that Deezer is the home of music, with the best experience possible and a unique potential. Matthieu Pigasse, co-founder and Member of the Board of Directors of I2PO, added: “Music is life. We are excited to accompany one of the emblematic European tech leaders in its next chapter as a public company listed in Paris.” I2PO brings an extensive international network and a complementary skill set to help develop Deezer as the leading independent music streaming platform through strong positions in selected key markets. In Deezer, we have found the ideal combination.
Iris Knobloch, I2PO (soon to be renamed Deezer)įrançois-Henri Pinault, co-founder and Member of the Board of Directors of I2PO, declared: “We launched the first European SPAC dedicated to entertainment and leisure with the ambition to take a European champion to new heights. “With Deezer’s hybrid B2B/B2C strategy to enter key international markets, its highly competitive technology and focus on ESG, we are confident that the company is well-positioned to disrupt and consolidate while providing a high-quality music streaming service to millions of users around the world.” “This is a perfect match and a transformational deal that will deliver long-term value creation for our shareholders as Deezer is a unique asset with considerable strategic avenues for future growth. Iris Knobloch, Chairwoman of the Board of Directors and Chief Executive Officer of I2PO, commented: “With its well-established brand, first-class management team and scalable platform, Deezer is poised to continue to capture a significant share in the booming music streaming growth. I2PO will be renamed Deezer upon completion of the merger.
I2PO says this amount meets “the minimum cash condition to pursue the group’s growth strategy, regardless of final redemption rate”. Via the PIPE (and a non-redemption undertaking), a total amount of €135 million ($145m) has been secured to date. This PIPE has been subscribed by most of the existing shareholders of Deezer including Access Industries, Universal Music Group, Warner Music Group, Orange, Kingdom Holdings, Eurazeo and Xavier Niel, as well as a group of long-term French and international investors including Groupe Artémis, Bpifrance and Media Participations. After the merger is completed, the combined company will benefit from the cash currently held by I2PO, in addition to cash raised through a PIPE (Private Investment in Public Equity).
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