TROOPS subsidiary enters LOI to acquire 49% of WORK, Inc.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 14 2025
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Acquisition Details: TROOPS' subsidiary Giant Connection has signed a Letter of Intent to acquire a 49% stake in WORK, Inc., a co-working space operator, with future options for full ownership and payment through convertible notes linked to TROOPS shares.
Expansion Plans: The acquisition aims to enhance TROOPS' presence in Asia's flexible workspace market, requiring the development of a new co-working space in Hong Kong and a dedicated mobile application, contingent on due diligence and regulatory approvals.
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About TROO
TROOPS Inc is an investment holding company principally engaged in the provision of consultancy services for insurance products. The Company operates its business through five segments. The Consultancy Services for Insurance Products segment is mainly engaged in the provision of consulting services that supports the insurance and financial management industry. The Money Lending segment is mainly engaged in the provision of mortgage loans. The Property Lease and Management segment is mainly engaged in the property investment business. The Advisory and Referral Services segment is mainly engaged in the provision of consulting and services. The Applications, Technology, and Services segment is mainly engaged in the provision of the development, operation and management of an online financial marketplace that provides one-stop financial technology solutions including application programming interface (API) services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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TROOPS Invests in HK Golden, Plans IPO for 2026
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