BGM Group (BGM) said Friday that it has acquired HM Management, an AI agent platform, in an all-stock deal valued at 300 million renminbi ($41.7 million).

BGM said it would issue 16.7 million class A shares at $2.50 each to acquire full ownership of HM and its subsidiaries, Beijing Shuda Technology and New Media Star Technology.

The deal is slated to be completed in Q2, the company said.