Sisecam has finalised its partnership settlement with Turkish expertise firm Icron.

Subsidiary firm Sisecam Investment bought 3% of shares within the expertise firm for $3 million on the closing of a basic assembly held yesterday January 15, 2024.

Simultaneously with the share buy, it was additionally determined to extend Icron’s complete capital by $5 million, with participation solely by Sisecam Investment. As a results of this capital improve, Sisecam Investment’s stake in Icron will rise to fifteen.66%.

Sisecam signed a letter of intent to spend money on Icron within the first half of 2023 after which in October reached a partnership settlement with the organisation.

Under the settlement accredited by the Turkish Competition Authority, Sisecam additionally holds an choice to buy extra shares in Icron – permitting it to boost its complete stake within the firm as much as 49% – sooner or later.

Sisecam’s aim with the partnership, its first funding in software program applied sciences, is to develop in tandem with Icron.

The General Meeting was attended by Sisecam Chairman and Executive Member of the Board Prof. Dr. Ahmet Kırman, Sisecam CEO Görkem Elverici, Icron Founding Partner A. Tamer Ünal, its Chairman and CEO Gürer Ünal and its Board Member Ahmet Ertuğrul.