Nightfood Holdings Inc. (OTCQB: NGTF), operating as TechForce Robotics, announced the signing of a non-binding letter of intent (LOI) to acquire a 51% controlling interest in Taiwan-based Jiun Jiang Enterprise Co. Ltd. Jiun Jiang specializes in semiconductor automation, advanced packaging equipment, robotics, and intelligent manufacturing systems. The proposed all-stock transaction would make JJ Enterprise a majority-owned operating subsidiary of Nightfood, with the purchase price tied to audited financial performance under U.S. GAAP and subject to due diligence, definitive agreements, and other closing conditions.
The acquisition is a key step in Nightfood’s strategy to build a diversified automation and advanced manufacturing platform spanning semiconductor manufacturing, AI infrastructure, pharmaceutical automation, and industrial technology. Under the proposed framework, JJ Enterprise’s implied enterprise value would begin at approximately $100 million based on a $20 million annual revenue run rate, with additional stock-based earnout consideration tied to higher audited revenue milestones.
Nightfood noted that the transaction cannot close until it completes a planned uplisting to a U.S. national securities exchange and all other required approvals are obtained. This condition underscores the company’s ambition to transition from the OTCQB to a more prominent exchange, potentially increasing its visibility and access to capital markets.
The announcement is significant as it reflects a growing trend of small-cap companies targeting automation and robotics sectors, which are experiencing heightened demand due to global supply chain disruptions and the push for technological self-sufficiency. Taiwan, a key hub for semiconductor manufacturing, offers strategic advantages for companies looking to integrate advanced manufacturing capabilities.
For more details on the press release, visit https://ibn.fm/TLJaa. For the latest news and updates on Nightfood Holdings, refer to the company’s newsroom at http://ibn.fm/NGTF.
