Tian Ruixiang Holdings in Advanced Talks to Acquire AI Broker
Tian Ruixiang Holdings Ltd (NASDAQ:TIRX) has seen its stock price drop significantly, hitting a 52-week low amid ongoing market conditions.
The company is in advanced discussions to acquire a Hong Kong-based AI broker with over $200 million in annual revenue and a 50% growth rate over the past five years. This acquisition, structured as a share-for-share exchange, aims to enhance TIRX's competitive positioning in the financial technology sector, leveraging the broker's extensive client base and expertise in wealth management. Post-acquisition, TIRX plans to focus on optimizing insurance product matching and expanding into Southeast Asia's wealth management markets.
This strategic move is expected to generate substantial incremental revenue for TIRX, potentially exceeding $200 million in the first year, which could significantly improve its financial outlook and market competitiveness.
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