FingerMotion to acquire 9.9% stake in Lyken.AI for $500,000
Strategic investment by FingerMotion in AI firm Lyken.AI valued at $5 million post-deal. Deal follows recent expansion into AI-driven financial services.
FingerMotion Inc said on Wednesday it will acquire a 9.9% stake in Lyken.AI, an artificial intelligence company, for $500,000.
The transaction values Lyken.AI at approximately $5.05 million based on the stake size, the mobile payments and financial services provider said in a filing. The deal is expected to close by the end of the third quarter.
FingerMotion, which has been expanding its offerings in AI-driven financial solutions, said the investment aligns with its strategy to enhance its technology stack and customer experience through AI integration.
Lyken.AI specializes in AI-powered analytics and automation tools for financial services, according to public disclosures. The company’s technology is designed to improve decision-making processes and operational efficiency in banking and payments sectors.
FingerMotion did not disclose additional terms of the agreement, including any future acquisition plans or operational collaborations with Lyken.AI. The company plans to fund the transaction from existing cash reserves.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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