TABS, a “diligence as a service” provider, is being acquired by PreIPO. The deal has priced the purchase at $20.8 million in both cash and stock.
The founding team of TABS is expected to join PreIPO’s management team and board of directors.
According to a note from the company, PreIPO – based in Wyoming, has agreed to acquire the assets and intellectual property of TABS Suite Pte. Ltd., a Singapore company founded by the Kabra family office.
The TABS products are thought to enable the PreIPOTM Platform to transform into a more robust digital ecosystem that hosts deals of all sizes by cutting down the time-to-decision during the evaluation and diligence process. TABS is also expected to enhance the way investors review and share deals by integrating.
TABS will continue to operate as-is with a slight change in branding.
TABS Suite managing director Atim Kabra stated:
“The entire team at TABS is excited to breach new horizons with PreIPO’s experienced team of industry veterans” and that both he and his co-founder “look forward to further disruption in the FinTech industry together” from their new positions on PreIPO’s board of directors and C-level management team, respectively.”
