Emerging Markets Report: On To The Next
A comment from emerging markets
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, plans to merge with GammaRey, a privately held fintech ecosystem for the New World Digital Economy, in a merger valued at $320 million based on a price per share 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 given GoLogiq a profitable business with strong cash flow driven by an estimated annual revenue rate of $20 million, plus nearly $800 million in customer financial assets. In addition, it introduced a pipeline of highly attractive accretive and/or technology-enabling acquisition targets.
This merger now allows the company to focus on expanding its platform even further and pursuing two major fintech acquisition targets. The targets have a combined total of more than $10 billion in assets under management managed by more than 200 financial advisors.
As we reported earlier, Fintech companies are merging with the end goal of scaling and growing into a larger and more robust company. 2022 was an important year for the Fintech sector considering that $76.8 billion was invested in 3,447 deals in the first half of the year alone, according to data from FinTech Global.
“Because GammaRey is now part of GoLogiq as a public company, it is now in a better position to pursue two existing M&A targets that together have more than $10 billion in client assets under management and two decades of success. Successful M&A transactions with these two prospects will further strengthen our competitiveness while providing increased earnings on a combined basis,” explained GoLogiq Interim CEO Brent Suen.
In addition to the merger with GammaRey, GoLogiq also recently entered into a $30 million definitive merger agreement with Nest Egg, which will soon launch a new simplified retirement investing app. Suen believes this specific deal will enhance the company’s value proposition for potential Generation Z and Millennial customers.
For more about 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. The software platforms include CreateApp, a mobile app development and publishing platform for small businesses; AtozGo, a hyperlocal app-based delivery system for ordering and fulfilling needs for residential and office towers; and AtozPay, an e-wallet for mobile top-up, e-commerce purchases, bill payments and microfinance in Indonesia.
About the Emerging Markets report:
Emerging Markets Report is owned and operated by Emerging Markets Consulting (EMC), a syndicate of investor relations consultants representing many years of experience. Our network consists of stockbrokers, investment bankers, fund managers and institutions actively seeking opportunities in the micro and small cap equity markets.
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