Core Insights - Gix Internet Ltd. has signed a non-binding memorandum of understanding (MOU) with the shareholders of a robotics company specializing in AI autonomous robotics solutions for logistics in medical centers [9] - The shareholders of the Robotics Company will exchange their shares for 30% of Gix's issued and outstanding ordinary shares, with options to increase their holdings to 37.5% and 45% upon achieving specific commercial milestones [1][6] Company Overview - Xylo Technologies Ltd. is a technology-based company focused on innovative growth partnerships in advanced medical solutions, digital commerce, and electric vehicle markets [7] - Xylo holds a 45.75% stake in Gix Internet Ltd., which is involved in the current transaction with the Robotics Company [9] Transaction Details - The transaction will result in the Robotics Company becoming a wholly owned subsidiary of Gix, enabling Gix to pursue additional growth opportunities and technological advancements in AI and robotics [6] - The completion of the transaction is subject to customary closing conditions and the negotiation of a definitive agreement [1][6]
Xylo: Gix Internet Signed MOU for Investment and Merger with an AI- Robotics Company