Cellebrite to go public through a SPAC merger at a $2.4 billion valuation
The Israeli digital intelligence company is set to merge with Nasdaq listed TWC Tech Holdings Corp II
Once the merger is completed, Cellebrite will begin to be traded under the CLBT ticker symbol with a post-merger valuation estimated at $2.4 billion.
Cellebrite has 700 employees, 500 of which are based in Israel. The company's headquarters and R&D center are located in Israel, with the company selling its digital forensics products to 6,700 public safety agencies and private sector enterprises in over 140 countries.
“Cellebrite’s vision is to provide industry-leading technology and a holistic DI solution that enables our customers to transform and digitize their entire investigative process. Today marks an exciting step for our company and team, and will put us in an even better position to capture the opportunities ahead. As a result of the transaction, we will seek to build upon our leadership position by making strategic, targeted investments to expand our capabilities, deepen our position in the public sector and attract new customers in the growing private sector market," said Cellbrite CEO Yossi Carmil.
Adam Clammer, Chief Executive Officer of TWC Tech Holdings, said: “At True Wind Capital we are focused on investing in leading technology companies, and the Cellebrite opportunity ticks all the boxes on our wish list for a long-term investment in a public company. Cellebrite empowers public and private sector customers to drive digital transformation of the investigative workflow through its advanced technology. Importantly, Cellebrite’s technology helps bring justice to victims of crimes, including cases of child exploitation, violent crimes such as homicide and sexual assault, drug and human trafficking, fraud and financial crime. We are proud to be partnering with a company that is having a real impact on these issues.”