Transaction Overview

The CloudAtlas acquisition brought a high-growth Indonesian enterprise SaaS platform to the U.S. public markets through a business combination with an Aetherium-sponsored SPAC vehicle. CloudAtlas provides cloud-based enterprise resource planning and human capital management software to mid-market companies across Indonesia and Malaysia, with annual recurring revenue exceeding sixty million dollars at the time of the transaction.

Deal Structure

The transaction was structured as an all-stock merger with a seventy-five million dollar concurrent PIPE raise anchored by two Southeast Asian sovereign wealth funds. Aetherium negotiated a seller rollover of eighty-five percent, ensuring founder alignment with public shareholders. The definitive agreement included customary representations and warranties with a twelve-month survival period and a capped indemnification framework.

Strategic Rationale

Indonesia’s enterprise software market is projected to grow at a compound annual growth rate exceeding twenty-five percent through 2030, driven by digital transformation mandates across the archipelago’s rapidly formalizing economy. CloudAtlas’s dominant position in the Indonesian mid-market segment, combined with its expanding presence in Malaysia, presented a compelling growth story for U.S. institutional investors. The NASDAQ listing provides CloudAtlas with enhanced credibility for winning large enterprise contracts and the capital to fund product development and geographic expansion.

Outcome

The de-SPAC transaction closed with minimal trust redemptions, and the combined entity’s stock traded above the initial trust value within the first quarter. CloudAtlas has since expanded its product suite and entered the Vietnamese market, with quarterly revenues growing thirty-two percent year-over-year following the merger.