According to ME News, on March 13 (UTC+8), Nasdaq-listed UTime Limited (Nasdaq: WTO) announced that it has signed a non-binding letter of intent to acquire 100% of the equity of Feixiaohao, a Web3 data analytics and asset pricing platform. The total value of the transaction is $80 million, including $64 million in UTime common stock or convertible preferred stock and $16 million in cash.
Following the acquisition, UTime will acquire all of Feixiaohao's technology platform, source code, databases, and trademarks. UTime plans to combine Feixiaohao's data capabilities with its hardware expertise to explore innovative applications that directly integrate blockchain data services into mobile devices and smart hardware, thereby entering the Web3 and blockchain data infrastructure field. (Source: ME)
