SportsTek Acquisition Corp. (NASDAQ:SPTK) announced this morning that it has entered into a non-binding letter-of-intent to combine with a computer-maker Metavisio (PA:ALTHO) at an enterprise value of $140 million to $160 million.

This valuation is subject to continued due diligence and the parties have agreed to an exclusivity period lasting until November 9. SportsTek has until February 19, 2023 to complete a transaction under its original transaction deadline.

So, this announcement is less like a traditional teaser to get it through an imminent vote, but may serve as a bit of a news to alert shareholders about what SportsTek has been up to before other complicating factors like pending regulation and tax questions may bring up other options towards the end of the year.

For Metavisio’s part, it makes laptops under the Thompson brand and plans to introduce gaming laptops and desktops this year. It currently has an estimated enterprise value of about $62 million and notched about €60.8 million ($59.1 million) in turnover in 2021 with €6.3 million ($6.1 million) in EBITDA, according to a corporate presentation.

In its home market of France, it now makes up about 36% of the market for laptops priced below €300, but this is also presumably the lowest-margin segment of the market. It has surprisingly managed this nonetheless with a mostly in-house team of 20 building its computers at its R&D and assembly center in France. It now plans to grow within the US and Asian markets and an up-list to the Nasdaq appears to be a part of that strategy.

It is up about +14.7% in the Paris market and SportsTek +0.3% in the New York pre-market on the news, but the SPAC will remain in SPACInsider‘s Searching column until or if this deal turns into a definitive agreement.