Moatable ( (MTBLY) ) has shared an announcement.
Lofty Inc., a subsidiary of Moatable Inc., has finalized a Stock Purchase Agreement to acquire The Letting Partnership Ltd (TLP) for approximately $4.6 million, with potential adjustments based on TLP’s cash reserves at closing. TLP, a UK-based company specializing in client accounting for the lettings industry, will become a majority-owned subsidiary of Moatable upon completion of the deal. The transaction is expected to close by the end of 2024, with the seller remaining as a consultant to TLP post-acquisition. This strategic move signifies Moatable’s expansion and commitment to growth in its service offerings.
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