Utah-based special purpose acquisition company Mercato has announced its intention to merge with Brazilian private serial software business acquirer Nuvini Group. Upon completion of the merger, the company will operate under the Nuvini name, with a combined enterprise value of $312 million. The combined business is expected to provide the Nuvini group with greater access to equity capital markets to fund the expansion of its software-as-a-service (SaaS) portfolio.
Led by veteran investor Dr. Gregory Warnock, the SPAC is sponsored by Mercato Partners, a private equity firm investing in expanding technology, branded consumer, and food and beverage companies. The firm provides strategic guidance, funding, and growth support to accelerate company growth and deliver increased returns.
Founded in 2020, Nuvini acquires vertical market software companies, enabling them to provide the best possible solutions to the customers in their industry or niche. It currently holds seven companies in its portfolio, including data intelligence platform Datahub, business development technology company Onclick, and customer-experience-as-a-service provider Smart NX.
The new Nuvini will be led by current Chief Executive Officer and Founder Pierre Schurmann, with Luis Busnello remaining as the company’s Chief Operating Officer. Warnock expects the enterprise to provide great value to Mercato’s investors.