GlobalTech Corporation has entered into a definitive agreement to acquire a 51% interest in 123 Investments Limited, which operates as premium UK footwear brand Moda in Pelle. The transaction, expected to close within 30 days subject to customary conditions, will be executed through a combination of common stock and Convertible Series A Preferred Stock that converts to common stock upon a Nasdaq Capital Market uplisting or other specified conditions. The acquisition represents a significant strategic expansion for GlobalTech, which aims to integrate its Thrivo AI technology into Moda in Pelle's e-commerce operations.
According to CEO Dan Green, this move aligns with the company's value-creation strategy and will support technology deployment across both businesses. The UK footwear brand reported approximately $37 million in net revenue last year, providing GlobalTech with an established revenue stream and operational presence in the UK market. GlobalTech Corporation is a U.S.-based technology holding company focused on artificial intelligence, big data, and emerging technologies. The company's approach involves strategic partnerships and capital investments designed to transform industries within the digital economy. Additional information about the company is available through its newsroom at https://ibn.fm/GLTK.
The transaction highlights the growing convergence between traditional retail and artificial intelligence technologies. By acquiring a majority stake in an established footwear brand, GlobalTech gains immediate access to retail operations where it can implement its AI-driven solutions. This move follows broader industry trends where technology companies are increasingly seeking to apply artificial intelligence to consumer-facing businesses to enhance operational efficiency and customer experience. The full details of the acquisition agreement are available in the company's press release at https://ibn.fm/0LUTU.
The announcement was distributed through AINewsWire, a specialized communications platform focused on artificial intelligence advancements and technologies. This acquisition represents a tangible example of how artificial intelligence companies are expanding beyond pure technology development into applied business operations. The integration of Thrivo AI into Moda in Pelle's e-commerce platform could potentially serve as a model for similar technology-retail partnerships in the future. As retail continues to evolve in the digital age, such strategic combinations between technology providers and established brands may become increasingly common as companies seek competitive advantages through technological innovation.
