Greenpro Capital Corp. (NASDAQ: GRNQ) announced the completion of a strategic share exchange with Forekast Limited, an AI and augmented intelligence data analytics provider. The company issued 8.5 million restricted shares of common stock in exchange for an equity interest in Forekast, a transaction that complies with NASDAQ listing rules and was approved by shareholders holding a majority of its voting power.
According to the company, the acquisition advances its strategy to expand AI-enabled financial platforms and digital finance offerings. Forekast contributes approximately $21 million in annual revenue and $1.6 million in EBITDA. Greenpro plans to integrate Forekast’s analytics and machine learning capabilities across its advisory services, ESG initiatives, and digital platform infrastructure.
This move is significant for Greenpro as it seeks to bolster its technology-driven services. The integration of Forekast’s AI capabilities could enhance the company’s ability to offer data-driven insights to its clients, potentially improving decision-making in areas like wealth management and cross-border business solutions. For the broader industry, the deal underscores a growing trend of traditional financial services firms acquiring AI analytics providers to stay competitive in a rapidly digitizing market.
Greenpro Capital, headquartered in Kuala Lumpur and incorporated in Nevada, operates as a business incubator with offices across Asia. Its portfolio includes finance, technology, banking, and health and wellness services, and it has 30 years of experience assisting businesses and high-net-worth individuals in capitalizing and securitizing value globally. The company provides cross-border business solutions, spinoffs on major stock exchanges, and accounting outsourcing services to small and medium-sized businesses in Asia. It also runs venture capital businesses for startups and high-growth companies.
For more information, visit http://www.greenprocapital.com. To view the full press release, visit https://ibn.fm/ZILLH.
