/ Datasection acquires Chilean startup Jach Technology28 November, 2019
The Japanese company Datasection, specialized in Artificial Intelligence and Big Data, bought the shares of the Chilean-Japanese company Jach Technology for 3 million dollars. The closing of the transaction was recorded on December 13, 2019.
Jach Technology offers real-time in-store camera image analysis as a business intelligence tool. In November 2019, in Tokyo, Japan, Jach shareholders agreed to contribute 95% of their shares in this company to Datasection Inc., a Japan-based company listed on the Tokyo Stock Exchange.
Datasection paid US $ 3,000,000 by delivering shares in a capital increase. With the remaining 5% of the shares, the shareholders of Jach Technology will be entitled to receive a preferential dividend, for an amount to be calculated in relation to the results of the company.
Alessandri Abogados advised Jach Technology in cross-border financing, specifically in the drafting and execution of loan documents, and other transactional documents that would guarantee repayment. The strategy considered, among other agreements, that Datasection financed the operation of Jach Technology to have an exponential growth in the market.