Internet Mobile Communications Limited agreed to acquire Crystal Peak Acquisition (ENXTAM:CPA1) through a reverse merger transaction on December 23, 2022. Upon completion of the Business Combination, the combined listed entity will be renamed IMC. Crystal Peak founder Michael Tobin will join the board of IMC.

Mark Steward, CEO of IMC will continue in his job. Crystal Peak employees will become part of IMC. The business combination is subject to approval from Crystal Peak shareholders and certain other customary closing conditions and is expected to complete no later than June 2023.

The business combination will result in accelerated future value creation. Daniel Simons, Danielle du Bois-Buné, Fiona Bantock, Karen Hughes and Adam Parry of Hogan Lovells is advising Internet Mobile Communications.