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FAQ: GlobalTech Corp.'s Acquisition of 51% Stake in Moda in Pelle
TL;DR
GlobalTech acquires 51% of Moda in Pelle to gain a new revenue stream, strengthen UK operations, and enhance e-commerce through AI integration for market advantage.
GlobalTech purchases a 51% stake in Moda in Pelle using common and convertible preferred stock, with closing expected within 30 days subject to conditions.
This acquisition supports GlobalTech's strategy to deploy technology across businesses, potentially creating value and transforming industries in the digital economy.
A U.S. AI company is buying a majority stake in a premium UK footwear brand with $37 million in revenue to integrate its Thrivo AI technology.
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GlobalTech Corp. (OTC: GLTK) has entered a definitive agreement to acquire a 51% interest in Moda in Pelle, a premium UK footwear brand, to expand its AI-driven retail capabilities and UK market reach.
GlobalTech Corporation is a U.S.-based technology holding company focused on driving innovation across AI, big data, and frontier technologies through strategic partnerships, scalable platforms, and capital investments.
Moda in Pelle is a premium UK footwear brand that generated approximately $37 million in net revenue last year, providing GlobalTech with a new revenue stream and strengthened UK operational presence.
The 51% stake will be purchased through a combination of common stock and Convertible Series A Preferred Stock, which convert to common stock upon a Nasdaq Capital Market uplisting or other specified conditions and carry no dividends.
The acquisition is expected to add a new revenue stream, strengthen GlobalTech's UK operational presence, and enhance e-commerce capabilities through Thrivo AI integration.
The closing is expected within 30 days, subject to customary conditions.
CEO Dan Green stated that the acquisition aligns with GlobalTech's value-creation strategy and will support technology deployment across both businesses.
The latest news and updates relating to GLTK are available in the company's newsroom at https://ibn.fm/GLTK, and the full press release can be viewed at https://ibn.fm/0LUTU.
AINewsWire is a specialized communications platform focused on AI advancements that published this announcement, providing distribution through its network as part of the Investor Brand Network portfolio.
Curated from InvestorBrandNetwork (IBN)
