ShiftPixy to Acquire TurboScale in $150 Million Deal; Shares Jump

MT Newswires Live

Oct 17, 2024

ShiftPixy (PIXY) shares climbed by more than 190% in premarket trading Thursday after the staffing company said it agreed to acquire TurboScale, an artificial intelligence company, for $150 million in stock and debt.

The acquisition price will be paid with $75 million in stock and $75 million in debt, the company said.

ShiftPixy said it will use TurboScale technology "to optimize staffing efficiency, improve labor forecasting, and offer advanced AI-driven workforce solutions for clients."

ShiftPixy said it plans to launch new AI-driven tools by early 2025.

Price: 17.76, Change: +12.26, Percent Change: +222.91

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