beta - fireinvestment.io logo beta - fireinvestment.io logo Home Markets News Resources Burn it

Burn it
ENG
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
 Login Register

2023-03-09 13:31:00

GoLogiq's GammaRey Merger Paves Way for Two Potential Major FinTech Acquisitions with Aggregate Assets Under Management Exceeding $10 Billion

GoLogiq's GammaRey Merger Paves Way for Two Potential Major FinTech Acquisitions with Aggregate Assets Under Management Exceeding $10 Billion

GammaRey 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. "Now with our merger with GammaRey complete, our expanded team has now turned its focus on additional complementary acquisitions in the pipeline," stated GoLogiq interim CEO, Brent Suen. "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's expanded platform addresses the high-growth market of wealth management for Generation Z and Millennials. This new generation of wealth-builders represents the sharing economy that prefer digital banking solutions, such as virtual payments, online lending and point-based loyalty programs. GoLogiq also recently announced it entered into a definitive $30 million merger agreement with Nest Egg, which is soon to launch a new simplified retirement investing app. The app offers a streamlined AI-powered solution for discovering, planning, and automating retirement savings, including investment products and services offered by Nest Egg's FINRA-licensed broker dealer. "We anticipate Nest Egg to not only enhance our value proposition for potential Generation Z and Millennial customers," continued Suen, "but also for these two complementary acquisition targets we are pursuing. We can see Nest Egg's technology platform having a tremendous positive impact on their growth and global market opportunities." GoLogiq also recently reported that it has begun the process of applying to list on a senior U.S. stock exchange. The listing would be subject to approval based on several factors, including satisfaction of minimum listing requirements. The company believes it meets the quantitative requirements, including net shareholder equity and market capitalization.

Most Read News

Get Crypto Newsletter
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.