Officials say Sisecam purchased 3% of ICRON’s total shares for $3 million. Photo courtesy of Sisecam.

Nearly eight months after signing a letter of intent to invest in Turkey-based technology company ICRON, Sisecam has officially purchased shares. Officials say Sisecam purchased 3% of ICRON’s total shares for $3 million.

Officials add that it was also decided to increase ICRON’s total capital by $5 million. This follows a partnership agreement reached in October 2023 between the two companies.

Under the agreement approved by the Turkish Competition Authority, Sisecam holds an option to purchase additional shares in ICRON. This allows it to raise its total stake in the company to 49%. Sisecam’s goal with this partnership, its first investment in software technologies, is to grow with ICRON, according to officials.

Officials add that ICRON is expected to contribute to Sisecam’s operational and financial performance with its already-established digital infrastructure.

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