An Emerging Markets Sponsored Commentary
ORLANDO, Fla., March 14, 2023 (GLOBE NEWSWIRE) — We previously reported that GoLogiq, Inc. (“GoLogiq”) (OTC: GOLQ), a global provider of mobile fintech solutions for digital transformation and consumer data analytics, planned 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. Now that the merger is complete, the company is setting its sights on something even bigger.
Merging with GammaRey proved to be a wise decision as it has brought to GoLogiq a profitable business with strong cash flow driven by an estimated $20 million annualized revenue run rate, plus nearly $800 million in customer financial assets. Moreover, it introduced a pipeline of highly attractive accretive and/or tech-enabling acquisition targets.
This merger now allows the company to focus on expanding its platform even more and pursuing two major fintech acquisition targets. The targets collectively have more than $10 billion in assets under management that are managed by more than 200 financial advisors.
Like we reported previously, Fintech companies merge with the end goal of scaling and growing into a bigger and more resilient company. 2022 was an important year for the Fintech sector considering $76.8 billion was invested across 3,447 deals in only the first half of the year, according to data from FinTech Global .
“Due to GammaRey now being part of GoLogiq as a public company, it is now in a better position to pursue two existing M&A targets which collectively have more than $10 billion in client assets under management and two decades of business success. Successful M&A transactions with these two prospects would further enhance our competitive strength while providing accretive earnings on a combined basis,” GoLogiq interim CEO, Brent Suen, explained.
In addition to the merger with GammaRey, GoLogiq also recently entered into a definitive $30 million merger agreement with Nest Egg, which is soon to launch a new simplified retirement investing app. Suen believes that this specific deal will enhance the company’s value proposition for potential Generation Z and Millennial customers.
For more on GoLogiq Inc. visit: https://gologiq.com/
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.
About The Emerging Markets Report:
The Emerging Markets Report is owned and operated by Emerging Markets Consulting (EMC), a syndicate of investor relations consultants representing years of experience. Our network consists of stockbrokers, investment bankers, fund managers, and institutions that actively seek opportunities in the micro and small-cap equity markets.
For more informative reports such as this, please sign up at: https://emergingmarketsconsulting.com/
Must Read OTC Markets/SEC policy on stock promotion and investor protection
Section 17(b) of the Securities Act of 1933 requires that any person that uses the mails to publish, give publicity to, or circulate any publication or communication that describes a security in return for consideration received or to be received directly or indirectly from an issuer, underwriter, or dealer, must fully disclose the type of consideration (i.e. cash, free trading stock, restricted stock, stock options, stock warrants) and the specific amount of the consideration. In connection therewith, EMC has received the following compensation and/or has an agreement to receive in the future certain compensation, as described below.
EMC has been paid $75,000 and 300,000 restricted common stock shares by GoLogiq, Inc. and has been paid an additional $25,000 by Lynette Hannahs on behalf of GoLogiq, Inc. EMC does not independently verify any of the content linked-to from this editorial. https://emergingmarketsconsulting.com/disclaimer/
Emerging Markets Consulting, LLC
390 N Orange Ave. Suite 2300
Orlando, FL 32801
E-mail: [email protected]