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Nasdaq-listed Blue Hat mulls acquisition of Dubai-based broker: Chineseaugmented reality gaming developer Blue Hat is planning to acquire 60% of Dubai-based trading platform GTC Multi Trading, according to a press release. Blue Hat will acquire the stake through multiple ordinary share issuances. The exact value of the transaction was not disclosed.
The acquisition will help Blue Hat explore AI-assisted trading of gold, other precious metals, and financial derivatives, according to the statement. The acquisition is also expected to advance Blue Hat’s AI-driven financial services.
What they said: “The acquisition of GTCM marks the initial phase of our collaboration following the framework cooperation agreement with GTC Group. We remain committed to further exploring AI applications in the financial industry, propelling our services and products towards an AI-driven future,” Blue Hat CEO Chen Xiaodong said.
OTHER M&A NEWS-
Palms Sports acquires 80% of Yas Physiotherapy Center: Abu Dhabi-based sports manager Palms Sports finalized the acquisition of an 80% stake in sports injury treatment and rehabilitation clinic Yas Physiotherapy Center for an undisclosed value, according to a press release (pdf). The International Holding Company subsidiary purchased the Abu Dhabi-based clinic as part of its push to “diversify and expand its investments into new segments and verticals,” according to the statement.
This transaction marks Palms’ second acquisition of the year, after it took over Learn Education and its portfolio of schools, Al Rabeeh School and Al Rabeeh Academy in February.
