Fobi AI Inc. Sells German Subsidiary to Strengthen Financial Position

An announcement from Fobi AI ( (TSE:FOBI) ) is now available.

Fobi AI Inc. has announced the sale of its German subsidiary, Fobi AI Germany GmbH, to an arm’s length third-party purchaser for EUR 1,540,000. This strategic move is designed to bolster Fobi’s financial position and secure full licensing rights, allowing the company to focus on growth in key areas aligned with AI and Web3 advancements. The transaction, which requires TSX Venture Exchange approval, is part of Fobi’s broader strategy to align with transformative industry shifts and enhance its market positioning.

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 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 at scale. The company works with large global organizations across various industries and is recognized as a technology and data intelligence leader in North America and Europe.

Technical Sentiment Signal: Sell

Current Market Cap: C$8.98M

Find detailed analytics on FOBI stock on TipRanks’ Stock Analysis page.