SYNAGISTICS plans to acquire a Singapore AI company to expand its collaboration with NVIDIA and others

SYNAGISTICS (02562.HK) announced that it has signed a legally binding letter of intent for investment regarding the proposed full acquisition of a target company that leads in artificial intelligence (AI), blockchain, decentralized finance, and stablecoin innovation. As part of the proposed acquisition, the management and founders of the target group will provide three years of revenue and profit guarantees. The cost of the proposed acquisition will be paid through the issuance and allotment of new shares in the company.

The target group, established in Singapore, has become a global leader in accelerating software innovation and ecosystem development in artificial intelligence, blockchain, decentralized finance, and stablecoin technology, including the development and successful launch of stablecoin platforms and infrastructure. Its proprietary network boasts over 400,000 AI, blockchain, and software engineers and developers, more than 200 clients and partners, with operations covering over 70 countries. Its successful AI achievements include launching the first global AI accelerator supported by NVIDIA (NVDA.US), selecting 15 top startups from over 1,000 applicants worldwide, focusing on areas such as large language models (LLMs), natural language processing (NLP), and generative artificial intelligence.

The target group has a reputable global institutional investor base, including OMERS (Ontario Municipal Employees Retirement System - Canadian Pension Fund), Mandiri Investment (a subsidiary of Indonesia's largest bank), Khazanah Nasional Berhad (Malaysia's sovereign fund), KB Investment (a subsidiary of one of South Korea's largest banks), Korea Investment Partners (South Korea's largest venture capital firm), PwC Singapore, and Mark Cuban Companies, as well as a network of strategic angel investors and industry operators. Upon completion of the proposed acquisition, it is expected that these global institutional investors will also become shareholders of SYNAGISTICS.

SYNAGISTICS believes that the acquisition will leverage the target group's collaboration with NVIDIA and government support programs to accelerate the application of AI-driven enterprise solutions; build on the target group's collaboration with Circle (USDC application) and WSPN (stablecoin infrastructure) to drive a new wave of digital assetization; and solidify SYNAGISTICS' position as a pan-Asian leader in artificial intelligence and big data, while expanding into other regions through the target group's existing global ecosystem