ORLANDO, Fla., Jan. 04, 2023 (GLOBE NEWSWIRE) — GoLogiq, Inc. (OTC: GOLQ), a global provider of mobile fintech solutions for digital transformation and consumer data analytics in Southeast Asia, announced its plans to join forces with GammaRey, a privately-held fintech ecosystem for the New World Digital Economy, in a merger valued at $320 million based on per share pricing of $3.00.
So, what does this mean for the two companies?
We will make it simple: Bigger and Better .
Technological development has made the trend of Fintech company collaboration and partnerships more popular. 2021 was a huge year for fintech mergers and acquisitions with deals totaling $348.5 billion, according to FT Partners , an investment banking firm focused on financial technology. Now, for 2022, this year could be potentially bigger.
Fintech Companies merge for many reasons with the ultimate goal of scaling and growing into a bigger and more resilient company. Increased funding in the fintech marketplace has made it possible for many companies to join forces and combine their skills. Fintech company mergers or acquisitions are also a potentially more cost-effective option compared to building a whole new technology.
As for the specific plans for GoLogiq and GammaRey, the two companies are focusing on the high-growth market of wealth management for Generation Z and Millennials, followed by the launch of a new digital payment platform designed for the sharing economy.
This is what GammaRey CEO, Timothy Alford, had to say about the merger : “Given the tremendous opportunities for growth in wealth management, the time has come to address the market on a larger scale through this highly synergistic merger. As a publicly traded company with more favorable access to the capital markets, it affords our GammaRey shareholders, as well as those of GoLogiq, numerous benefits. This includes greater liquidity, higher brand visibility, and recognition of the tremendous value we have created with our proprietary fintech platform.”
GoLogiq CEO, Matthew Brent also chimed in, “Combining forces with GammaRey along with its capable and accomplished executive team represents a significant step toward realizing GoLogiq’s vision for a comprehensive fintech platform for underserved businesses and consumers when it became a public company last year. We see huge opportunities as we look to integrate our respective powerful fintech platforms, and set the stage for strong growth and profitability in the new year.”
In conclusion, the merger between GoLogiq Inc. and GammaRey is huge for both companies, creating a potentially bigger, better and brighter future in the Fintech Industry.
We will leave you with a couple of reasons why GoLogiq Inc. is a company with significant opportunities in the ever-expanding Fintech Industry.
- Profitable business with strong cash flow.
- Nearly $800 million in customer financial assets.
- Full-stack ecosystem for the New World Digital Economy: commodity-backed digital currency, digital wallet, and proprietary transaction platform for securities, goods and services.
About GoLogiq, Inc.:
GoLogiq, Inc. provides mobile solutions for digital transformation and financial inclusion in Southeast Asia and emerging markets. Its software platforms include CreateApp, a mobile app development and publishing platform for small business; AtozGo, a hyper-local app-based delivery system for ordering and fulfillment needs of residential and office towers; and AtozPay, an eWallet for mobile top-up, e-commerce purchases, bill payment, and microfinance in Indonesia.
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