Reported Earlier, FLJ Group Completes $180M Cash Purchase of Alpha Mind Technology, Terminates Lianlian Acquisition
Portfolio Pulse from Benzinga Newsdesk
FLJ Group has completed the acquisition of Alpha Mind Technology for $180M in cash, making it a wholly-owned subsidiary. The senior management of FLJ Group will remain post-acquisition. Additionally, FLJ Group has mutually terminated a previously announced acquisition agreement with Lianlian Holdings Inc. and its shareholders.
December 29, 2023 | 7:08 am
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POSITIVE IMPACT
FLJ Group has successfully acquired Alpha Mind Technology and terminated its acquisition plans with Lianlian Holdings, which may lead to a positive market response due to the completed deal.
The completion of the acquisition of Alpha Mind Technology is a significant strategic move for FLJ Group, likely viewed positively by investors as it expands the company's portfolio. The termination of the Lianlian acquisition may also be seen as a positive if investors were skeptical about the deal or if it suggests a more focused strategy by FLJ Group.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100