Connexa Sports Technologies (YYAI) said Monday that it licensed Yuanyu Enterprise Management's matchmaking services to Eternity Technology that covers UK and other major European markets.
The agreement covers minimum payments of over $19 million to Yuanyu across calendar 2024 to 2026, according to the company. Eternity will offer matchmaking services using Yuanyu's technology in the UK, and Europe including Switzerland, Austria, Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.
Yuanyu owns six technologies related to the metaverse and five artificial intelligence-based matchmaking patents. Connexa owns a 20% stake in the Hong Kong-based online matchmaker.
Connexa said it plans to sign similar agreements in the coming weeks to globalize Yuanyu's business.
Connexa shares were up over 12% in recent trading.
Price: 8.32, Change: +0.90, Percent Change: +12.13
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.