AnyTech365 to Go Public Through Merger with DUET Acquisition Corp. (DUET) (2022)

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Anteco Systems, S.L. (“AnyTech365” or “the Company”), a leader in IT security and support, and DUET Acquisition Corp. (NASDAQ: DUET, DUETW, DUETU) (“DUET”), a special purpose acquisition company focused on disruptive high-growth, middle market technology companies, announced today that they have entered into a definitive business combination agreement (the “Transaction”) that will result in AnyTech365 becoming a publicly traded company. The Transaction is expected to be completed in the fourth quarter of 2022, subject to regulatory approvals and other customary closing conditions. After closing, AnyTech365 expects to trade on NASDAQ under ticker symbol ANYT.

This press release features multimedia. View the full release here:

AnyTech365: An Efficient, Customer-First Approach to IT Security and Support

Founded in 2014, AnyTech365 offers subscription-based Technical Support as a Service (“TSaaS”), covering everything from IoT home devices to PC and software related issues. As cybersecurity rises in prominence and IT devices and software become increasingly complex systems for consumers and small businesses to navigate, AnyTech365 is simplifying the user experience, offering reliable and trustworthy support around the clock.

As a one-stop-shop, AnyTech365 addresses consumer tech issues in an efficient and comprehensive manner with both support service and extensive product features. Customers can choose from tiered subscription-based packages, which include around the clock access to the Company’s qualified technicians with extensive IoT knowledge. In addition, the Company offers best-in-class IT security technology leveraging artificial intelligence to proactively prevent cybersecurity threats combined with a fully compliant internal procedure certified by AppEsteem®.

AnyTech365 intends to use the proceeds from the transaction to accelerate its growth strategy, including expanding its core business to meet increased demand, accelerating its strategic partnership with Media Markt, and pursuing strategic acquisitions.

Capitalizing on Favorable Market Tailwinds: The growing complexity of IoT technologies, alongside increased cybersecurity risk, has made it an opportune time for AnyTech365 to expand its legacy TSaaS business. With the devices with which we interact every day becoming increasingly complex and connected and digital operations migrating to the cloud, small businesses and consumers are increasingly looking for high-quality technical support. AnyTech365’s customer-first service offering is uniquely positioned to capitalize on the rising demand stemming from these trends. With a strong existing B2C presence and market resonance, the Company also has a tremendous opportunity to extend B2B applications serving small and medium enterprises across expanded end markets and geographies.

Expanding Strategic Partnerships: AnyTech365 is poised to scale its reach throughout Europe by expanding its recently announced partnership with Media Markt, Europe’s largest electronic retailer with over 1,000 stores and a leading ecommerce platform. The agreement will allow AnyTech365 to position technical personnel at each of Media Markt’s more than 100 stores in Spain to provide on-site technical support to customers and the opportunity to introduce the Company’s TSaaS services. Beyond Spain, the partnership is expected to roll out across additional EU territories where Media Markt operates.

Pursuing Complementary Acquisitions: The strong demand for TSaaS and the fragmented market presents a considerable opportunity for AnyTech365 to rapidly expand its service offerings and capabilities across end markets and geographies. With an industry leading compliance platform and scalable AI systems, AnyTech365 is positioned to achieve greater reach through consolidation in this nascent and fast-growing environment.

Management Comments

Janus Nielsen, Founder of AnyTech365, and Tero Turunen, Executive Chairman, said:

“Since our founding, AnyTech365 has been focused on simplifying the IT security and support industry for consumers who are overwhelmed by the complexity and noise of the space. We understand the frustration that consumers feel, which is why we set out to create a one-point solution for exceptional service and first-class IT security technology. Our recently announced partnership with Media Markt, coupled with the heightened degree of cybersecurity risk across the globe, has created a favorable environment for us to accelerate our growth. This merger with DUET will provide us with greater opportunity to capitalize on our momentum, expand our offerings, and take advantage of improved access to capital markets. DUET’s expertise in high-growth, disruptive technologies make them an ideal partner to take AnyTech365 through its next phase of growth and we look forward to working with them as strategic investors.”

Yeoh Oon Lai and Dharmendra Magasvaran, Co-CEOs of DUET, said:

“We launched DUET with the intention of finding a disruptive change-maker technology enterprise and have found an ideal partner in AnyTech365. The Company is reimagining customer care, disrupting the complex IT support industry, and providing consumers with a reliable and trustworthy partner. This business combination will accelerate AnyTech365’s ability to scale effectively and expand its service offerings across Europe and into new geographies. We are excited to partner with Tero, Janus, and the entire AnyTech365 team.”

Transaction Overview

The business combination values AnyTech365 at a $200 million enterprise value and at a pro forma market capitalization of approximately $287 million, assuming a $10.00 per share price and no redemptions by DUET stockholders. The transaction will provide a minimum of $77.1 million of net proceeds to the company after payment of transaction expenses, assuming no redemptions.

The transaction, which has been unanimously approved by the Boards of Directors of AnyTech365 and DUET, is subject to approval by DUET’s stockholders and other customary closing conditions, including the receipt of certain regulatory approvals.

Additional information about the proposed transaction, including a copy of the merger agreement, will be available in a Current Report on Form 8-K to be filed by DUET with the U.S. Securities and Exchange Commission (the “SEC”) and at


ARC Group Limited is serving as sole M&A advisor, Riveron is serving as financial advisor to AnyTech365, and Arthur Cox LLP is serving as legal counsel on the transaction. Nelson Mullins Riley & Scarborough LLP is serving as legal counsel to DUET.

About AnyTech365

Founded in 2014 and headquartered in Marbella, Spain, AnyTech365 is a leading European IT Security and Support company helping end users and small businesses have a worry-free experience with all things tech. With 420 employees and offices in Marbella and Torremolinos (Spain), Casablanca (Morocco), Copenhagen (Denmark), and San Francisco (California, US), the Company offers an array of European native-speaking talent to help service client needs in more than 25 countries in Europe and across the world in 15+ different languages. Our qualified technicians are available 24/7, 365 days a year, providing fast technical support to help with practically any issues that users may experience with their PC, laptop, smartphone, wearable technology, smart home devices or any Internet-connected device.

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About DUET Acquisition Corp.

DUET Acquisition Corp. is a blank check company, which was formed to acquire one or more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. DUET was formed to effect a business combination with middle market "enabling technology" businesses or assets with a focus on eCommerce, FinTech, Big Data & Analytics and Robotic Process Automation (RPA).

DUET's chairman, Larry Gan Nyap Liou has extensive experience as an active and strategic investor in eCommerce and digital enterprises. DUET's Co-CEOs, Dharmendra Magasvaran and Yeoh Oon Lai have deep experience in consulting, digital business and operational experience in the consumer industry respectively.

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