- Business
- CF Acquisition Corp. VIII (CFFEU) operates as a special purpose acquisition company focused on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses, primarily targeting sectors including financial services, healthcare, real estate services, technology, software, consumer goods, and renewable energy. The company offers units comprising Class A ordinary shares and warrants, with its principal activities centered on identifying high-growth targets and holding IPO proceeds in trust pending a de-SPAC transaction. Founded in 2020 and headquartered in New York, New York, it maintains a lean structure sponsored by Cantor Fitzgerald, led by Chairman and CEO Howard W. Lutnick.
In November 2023, CF Acquisition Corp. VIII completed a business combination through a reverse merger with XBP Europe, Inc., a pan-European integrator of bills, payments, and related digitization solutions formerly part of Exela Technologies; the combined entity began trading as XBP Europe under the Nasdaq ticker XBP, with CFFEU units reflecting post-merger value. This transaction followed shareholder approval in August 2023 for the merger with Exela Technologies Europe, renamed XBP Europe Holdings, marking a strategic shift from blank-check status to backing XBP Europe's cloud-based business process management offerings serving over 2,000 clients across banking, healthcare, insurance, utilities, public sector, and enterprises in 15 EMEA countries. The deal positioned the company within digital transformation services, emphasizing automated billing, remittances, reconciliations, digital mailroom, e-signatures, and secure messaging, with operations spanning 34 locations and approximately 1,500 employees.