Xylo Technologies Ltd., an Israel-based company focused on advanced innovative technologies, announced the signing of a letter of intent to acquire a leading AI technology company based in Germany. This strategic acquisition aligns with Xylo’s strategy to expand its portfolio into advanced AI technologies across multiple industries. The Target Company, with a decade-long history of merging AI and machine learning with advanced hardware, has established a robust client base across sectors like aerospace, aviation, and real estate. Xylo will initiate the transaction with a down payment of 1.5 million Euros and will acquire the remaining shares based on the 2024 EBITDA results. This planned acquisition is bolstered by the expertise of Xylo’s newly appointed senior advisor in AI, marking a significant step in the company’s growth trajectory.
Technology, Artificial Intelligence, Mergers and Acquisitions (M&A),Israel, Germany
https://www.globenewswire.com/news-release/2024/05/21/2885614/0/en/Xylo-Technologies-Signs-LOI-to-Acquire-a-Leading-AI-Technology-Company-Based-in-Germany.html