noco-noco To Acquire Japanese Electric Vehicle Manufacturer Assemblepoint For A Consideration Of ~$3.6M Via A Share Swap Arrangement, In A Strategic Move Driven By A Shared Commitment To Address Pressing Environmental And Transportation Challenges
Portfolio Pulse from Benzinga Newsdesk
noco-noco Inc. (NASDAQ:NCNC) plans to acquire 51% of Japanese EV manufacturer Assemblepoint for $3.6M via a share swap. The deal, expected to close in Q1 2024, aims to leverage noco-noco's battery technology and Assemblepoint's scalable Smart Bus assembly to address environmental and transportation challenges. The acquisition is anticipated to be accretive to noco-noco's revenue and earnings in 2024 and will support its expansion in the EV market across Asia and the Middle East. The Philippines, a key market, aims to reduce emissions by 75% by 2023, and the partnership will help overcome challenges like lack of charging infrastructure.
November 27, 2023 | 1:46 pm
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POSITIVE IMPACT
noco-noco Inc.'s acquisition of Assemblepoint is expected to be accretive to its revenue and earnings in 2024, enhancing its product offering and market presence in the EV sector.
The acquisition of Assemblepoint is directly related to noco-noco's core business and is expected to contribute positively to its financial performance. The strategic move to enhance its battery technology and expand into new markets is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price. The confidence score reflects the positive outlook, although the actual impact will depend on the successful completion of the acquisition and integration of the new assets.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100