ShiftPixy's Big AI Move: Supercharges Workforce Management With $150M TurboScale Deal
Portfolio Pulse from Nabaparna Bhattacharya
ShiftPixy, Inc. (NASDAQ:PIXY) has announced the acquisition of TurboScale, an AI technology company, for $150 million. This acquisition aims to enhance ShiftPixy's workforce management capabilities with AI-powered features. The deal is structured with $75 million in stock and $75 million in debt. Following the announcement, PIXY shares surged by 149.8% in premarket trading.
October 17, 2024 | 1:24 pm
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ShiftPixy has acquired TurboScale for $150 million to enhance its AI capabilities in workforce management. The acquisition is expected to drive growth and innovation, with PIXY shares rising 149.8% in premarket trading.
The acquisition of TurboScale is a significant move for ShiftPixy, enhancing its AI capabilities and potentially driving future growth. The market has reacted positively, with a substantial increase in PIXY's stock price, indicating investor confidence in the strategic direction.
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