Company Overview - BGM Group Ltd. is a leading AI technology company focused on AI applications, intelligent robots, algorithmic computing power, cloud computing, and biopharmaceuticals [5] - The company utilizes advanced analytics and AI agent technology to provide comprehensive AI solutions and intelligent robot services, particularly in the insurance sector [6] Acquisition Details - BGM Group has entered into a definitive agreement to acquire HM Management Company Limited for approximately RMB300 million (US$41.7 million) in an all-stock transaction [1][2] - The acquisition involves issuing 16,663,427 Class A ordinary shares at $2.50 per share to gain 100% ownership of HM Management and its subsidiaries [2] Strategic Impact - The acquisition of Shuda Technology and New Media Star enhances BGM's AI application portfolio and integrates existing resources from its AI insurance and mobility businesses [4] - Shuda Technology specializes in AI-driven enterprise efficiency solutions, while New Media Star operates a growing AI tools platform [3] - The addition of these companies is expected to foster technological creativity and drive industry-wide impact, positioning BGM for rapid expansion into market opportunities [4] Industry Positioning - BGM aims to create a leading ecosystem of AI agent applications, leveraging over 100 industry-specific AI modules and an established developer ecosystem [4] - The company’s biopharmaceutical division integrates AI-assisted decision-making to optimize supply chains and improve process efficiency [7]
BGM Group Announces Strategic Acquisition of HM Management to Expand AI Application Ecosystem