GMEX Robotics to Acquire at Least 30% Interest in Singapore's Alpha Meta AI

MT Newswires Live07-28 21:30

GMEX Robotics (GMEX) said Tuesday it has entered into a definitive share purchase agreement with Alpha Meta AI, which operates the MediaMeta business in Singapore and MetaGen AI.

MediaMeta is focused on social-intelligence AI and human-behavioral modeling, and the transaction is expected to give GMEX access to technology that may be integrated into its robotics architecture, GMEX said.

Under the agreement, GMEX is set to make an initial acquisition of 30% fully diluted equity interest in Alpha Meta AI, with an option to obtain a controlling equity interest, with the purchase consideration consisting of cash and GMEX shares, according to the statement.

Alpha Meta AI is also tasked with achieving over $52.6 million in revenue over the next five years from the closing of the transaction, with failure resulting in GMEX being entitled to a certain adjustment or partial refund of the consideration paid.

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