Summary by Moomoo AI
On March 29, 2024, ShiftPixy, Inc., a Florida-based human capital services enterprise, announced the signing of a non-binding asset purchase agreement to acquire a leading staffing company in the Western United States. The acquisition, which includes the staffing company's intellectual property, client contracts, and other assets, is valued at $25 million. The payment structure includes a $12.5 million cash payment, with two additional payments totaling $12.5 million, contingent on the seller's revenue performance. The closing of the deal is dependent on ShiftPixy securing acceptable financing, and there is no guarantee that the acquisition will be completed. The company aims to leverage this acquisition to continue its growth and national market expansion, as part of its strategy to enhance its platform in the Gig Economy. The announcement was made official through a press release on April 2, 2024.