Cuentas Releases Proposed Acquisition Of Majority Stake In World Health Energy Holdings, Inc.; WHEN, UCG, Exchanging Its 75% Stake, Cuentas Will Issue To UCG A Number Of Common Shares Of CUEN Which Will Represent, 50% Of Co' Issued And Outstanding Capital
Portfolio Pulse from Benzinga Newsdesk
Cuentas, Inc. (CUEN) has announced a binding letter of intent to acquire a majority stake in World Health Energy Holdings, Inc. (WHEN), with the transaction resulting in WHEN becoming a majority-owned subsidiary of Cuentas. The deal involves Cuentas issuing shares to UCG, Inc., representing 50% of Cuentas' capital, in exchange for UCG's 75% stake in WHEN. The acquisition aims to expand Cuentas' footprint into cybersecurity, AI, and telecom technology, targeting a market forecasted at $215 billion by Gartner. The transaction is subject to Nasdaq and shareholder approval, with completion expected by the end of 2023.
November 14, 2023 | 2:14 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Cuentas plans to acquire a majority stake in WHEN, expanding into cybersecurity and AI, with the potential to significantly enhance its product offerings and market reach.
The acquisition of WHEN by Cuentas is likely to be viewed positively by investors as it represents a strategic expansion into high-growth areas such as cybersecurity and AI. The deal could lead to increased investor confidence and potential stock price appreciation in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
World Health Energy Holdings, Inc. is set to become a majority-owned subsidiary of Cuentas, which could lead to increased exposure and integration of its cybersecurity solutions.
WHEN's integration into Cuentas could provide the company with greater resources and market access. This strategic move is likely to be seen as a positive development for WHEN, potentially leading to a positive short-term impact on its stock price.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100