Xylo Technologies To Axquire AI Technology Company; Will Pay Down Payment Of €1.5M And Initially Hold 51% Of Company's Outstanding Shares; Remaining 49% Acqiured With Determination Of Final Transaction Price
Portfolio Pulse from Benzinga Newsdesk
Xylo Technologies is set to acquire an AI technology company. The initial payment is €1.5 million, and Xylo will initially hold 51% of the company's outstanding shares. The remaining 49% will be acquired after determining the final transaction price.
May 21, 2024 | 1:01 pm
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Xylo Technologies is acquiring an AI technology company, initially holding 51% of its shares with a €1.5M down payment. The remaining 49% will be acquired later.
The acquisition of an AI technology company is likely to positively impact Xylo Technologies' stock price in the short term. The initial 51% stake and the structured payment plan indicate a strategic move to enhance their technological capabilities.
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