# VivoPower subsidiary Tembo to merge with CCTS at $838M valuation

VivoPower's subsidiary Tembo e-LV has entered a binding heads of agreement to merge with NASDAQ-listed Cactus Acquisition Corp. 1 Limited (CCTS) at an indicative equity value of $838 million. The combined company will be named Tembo Group.

- Type: Acquisition
- Announced: 2024-04-03
- Value: $838.0M
- Status: announced
- Products: utility vehicle electrification
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [VivoPower International](https://endata.com/companies/35300.md) (investor)
- [Tembo e-LV](https://endata.com/companies/76614.md) (target)
- [Cactus Acquisition Corp. 1 Limited](https://endata.com/companies/76615.md) (acquirer)

## Sources

- [temboelv.com](https://temboelv.com/news/vivopower-announces-binding-heads-of-agreement-to-merge-tembo-into-nasdaq-listed-ccts-at-an-indicative-us838m-equity-value), 2024-04-03: "Tembo, a global leader in utility vehicle electrification, and a subsidiary of VivoPower International, today announced it has entered into a binding heads of agreement."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.