Reported Earlier, ShiftPixy Signs LOI To Acquire AI Innovator TurboScale iI $150M Deal
Portfolio Pulse from Benzinga Newsdesk
ShiftPixy has signed a non-binding Letter of Intent to acquire AI company TurboScale for $150 million, split equally between stock and debt. This acquisition aims to enhance ShiftPixy's platform with TurboScale's AI solutions.
October 23, 2024 | 6:17 am
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ShiftPixy has entered into a non-binding LOI to acquire TurboScale for $150 million, aiming to boost its platform with AI capabilities. The deal involves $75 million in stock and $75 million in debt.
The acquisition of TurboScale is significant for ShiftPixy as it aims to enhance its platform with advanced AI solutions. The deal's structure, involving both stock and debt, indicates a strategic move to integrate AI capabilities, likely boosting investor confidence and potentially driving the stock price up in the short term.
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