BUZZ-HK-listed Synagistics jumps on plan to buy Singapore-based AI, blockchain firm

Reuters

Sep 15

** Shares of data-driven solutions platform operator Synagistics Ltd 2562.HK jump 10.7% to HK$16.99, their highest since September 4

** Stock on track for the biggest one-day pct gain since July 2

** Synagistics announces acquisition of an unidentified leader in AI, blockchain, decentralized finance and stablecoin innovation as it aims to deepen its footprint in the AI, blockchain and digital finance sector

** Company did not detail the price tag but said the deal with the Singapore-based firm will be settled by issue of new shares

** Says the target group's founders and the management will provide a three-year revenue and profit guarantee while the deal is subject to further due diligence

** YTD, stock down 38.9%, while Hang Seng Tech Index .HSTECH up 35.5%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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revenue and profit guarantee while the deal is subject to further due diligence ** YTD, stock down 38.9%, while Hang Seng Tech Index .HSTECH up 35.5% (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}