FLJ Group Inks Definitive Deal To Acquire Alpha Mind Technology Limited
Portfolio Pulse from Benzinga Newsdesk
FLJ Group has signed a definitive agreement to acquire Alpha Mind Technology Limited for $180 million or its RMB equivalent. Upon completion of the acquisition, Alpha Mind will become a wholly-owned subsidiary of FLJ Group. The sellers will receive a promissory note from the company equal to the aggregate purchase price at closing.
November 22, 2023 | 11:00 pm
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FLJ Group's acquisition of Alpha Mind Technology Limited for $180 million signifies a strategic expansion, with Alpha Mind becoming a wholly-owned subsidiary.
The acquisition of Alpha Mind Technology Limited by FLJ Group is a significant strategic move, likely to be viewed positively by investors as it suggests growth and expansion. The purchase price of $180 million indicates a substantial investment, and the fact that Alpha Mind will become a wholly-owned subsidiary could lead to potential synergies and increased market share for FLJ Group. This news is likely to have a positive short-term impact on FLJ's stock price, assuming the market perceives the acquisition as accretive to earnings and beneficial for the company's long-term strategy.
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