ShiftPixy Inc Announces Strategic Acquisition for $25 Million

An update from ShiftPixy Inc (PIXY) is now available.

ShiftPixy, Inc. has made a significant move by entering into an asset purchase agreement to acquire a leading staffing company in the Western United States, with a total consideration of $25 million. This strategic acquisition encompasses a wealth of assets including intellectual property, client contracts, and operational data. The payment structure is set out in three parts, with a mix of cash and stock options, and is contingent on the acquired company’s revenue performance post-closing. The deal’s finalization hinges on ShiftPixy securing satisfactory financing, and while the company has made the announcement, the completion of the acquisition is not guaranteed.

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