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Fobi AI ( (TSE:FOBI) ) just unveiled an update.
Fobi AI Inc. has completed the sale of its German subsidiary, Fobi AI Germany GmbH, to an arm’s length third-party purchaser for EUR 1,540,000. The transaction includes a non-exclusive, worldwide license for Fobi to use the ‘Passcreator Software’ for 48 months. This sale is part of Fobi’s strategic efforts to streamline its operations amidst an ongoing cease trade order by the British Columbia Securities Commission, which affects the company’s securities.
More about Fobi AI
Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to leverage and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste. The company works with large global organizations across various sectors including retail, insurance, sports, and hospitality.
Technical Sentiment Signal: Sell
Current Market Cap: C$8.98M
For a thorough assessment of FOBI stock, go to TipRanks’ Stock Analysis page.