TIDMOTV2 
 
 
   Octopus Titan VCT plc ("Company" or "Titan") 
 
 
 
   25 May 2021 
 
 
 
   Disposal of stake in WaveOptics Ltd 
 
   The Board of Octopus Titan VCT plc is pleased to announce that terms 
have been agreed for Snap Inc to acquire WaveOptics Ltd at a value not 
materially different from its holding value. 
 
   WaveOptics is a business that designs and sells a set of components for 
use in Augmented Reality ("AR") glasses that allow for the creation of 
AR displays. Titan invested at the series A funding round in 2015 and 
subsequently led the series B funding round in 2017 and the series C 
fundraise in 2018 and participated in the convertible note last year. 
Cumulatively, Titan invested GBP16.0m in WaveOptics. 
 
   This is the biggest UK deeptech acquisition in years and demonstrates 
the important role that VCTs play in helping to build great businesses 
that leverage technology to make a difference to their end customers in 
the products and services they provide. 
 
 
 
   For further enquiries, please contact: 
 
   Katherine Fyfe 
 
   Octopus Company Secretarial Services Limited 
 
   020 7710 2800

(END) Dow Jones Newswires

May 25, 2021 09:56 ET (13:56 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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