LINFLUENCE TECH to Acquire MYCLIKS COMMON STOCK to Strengthen the Leadership and expansion of the company.
TOKYO, JAPAN, May 7, 2020 /EINPresswire.com/ -- Linfluence tendered an offer to acquire 35% of the Company’s ownership at $7 per share. The proposed Stock Transaction to Strengthen Mycliks leadership, enhances the capabilities, and scale the growth with Linfluence Tech.
- Expect Meaningful expansion Accretion in Second Full Year While Preserving Strong Balance Sheet
- Expect Approximately $120 Million of net sales growth Run-Rate to Be Achieved by 2023
- Linfluence Authorizes $50 Million Share Repurchase Program
LINFLUENCE Tech Capital and Mycliks Inc today announced that they have entered into a definitive transaction agreement under which Linfluence will acquire Mycliks in Selling Shareholders that values Mycliks Inc at approximately $26Million.
Linfluence considers this as part of its strategic investment movement in the global economy despite many businesses have been hurt by the Coronavirus pandemic, technology and online businesses positioned to the benefit in the long run since more people turn to indoor or online services.
Mycliks hinted that the new deal could change the future of the company and it has worked hard for the last three years to accomplished the roadmap. "We are excited and looking forward to the greater start of the Africa expansion and welcome Linfluence to guide us through our strategic partnership", said the spokesperson. With more than 200million internet population, Africa is a growing state of internet penetration with a projection of 130% growth by 2025.
“By exploring with Mycliks SME entrepreneurship initiative in combination with artificial intelligence solution, we are confident the company will be able to provide a seamless and advance services to the consumer all at once achieving it's the projected target," said Kenji.
we are confident with this transaction it will give the ability to enhanced solutions to our customers and value for our stockholders". Said the spokesperson of Mycliks.
Linfluence and Mycliks together are expected to:
- Strengthen Mycliks expansion plan with the proven leadership and market strategy of Linfluence's experienced team.
Linfluence Authorizes Share Repurchase Program
Linfluence also announced that its Board of Directors has authorized a share repurchase program of up to $50 Million to be executed over the next three years. This is consistent with the company's investment approach toward scaled-up companies. If the company demonstrates a consistent yet profitable performance hence Linfluence will further add its ownership percentage in Mycliks through the repurchase program. However, it is depending on the company's strong growth and will be based on market conditions, share price, and other factors. Repurchases may be made in the open market or privately negotiated transaction.
Timing and Approvals
Mycliks-Linfluence transaction is expected to close in the last quarter of 2020, subject to Myclik's selling shareholder process, the satisfaction of customary closing conditions, tax regulations, and receipt of regulatory approvals.
Management and Headquarters
Following the closing of the transaction, Mycliks will be led by the Founder & CEO Danial, and remain its headquarter in California.
Advisors
The Bank of America will be the managing Advisor of Mycliks and Will Tacher as Linfluence Tech's Advisor.
- Expect Meaningful expansion Accretion in Second Full Year While Preserving Strong Balance Sheet
- Expect Approximately $120 Million of net sales growth Run-Rate to Be Achieved by 2023
- Linfluence Authorizes $50 Million Share Repurchase Program
LINFLUENCE Tech Capital and Mycliks Inc today announced that they have entered into a definitive transaction agreement under which Linfluence will acquire Mycliks in Selling Shareholders that values Mycliks Inc at approximately $26Million.
Linfluence considers this as part of its strategic investment movement in the global economy despite many businesses have been hurt by the Coronavirus pandemic, technology and online businesses positioned to the benefit in the long run since more people turn to indoor or online services.
Mycliks hinted that the new deal could change the future of the company and it has worked hard for the last three years to accomplished the roadmap. "We are excited and looking forward to the greater start of the Africa expansion and welcome Linfluence to guide us through our strategic partnership", said the spokesperson. With more than 200million internet population, Africa is a growing state of internet penetration with a projection of 130% growth by 2025.
“By exploring with Mycliks SME entrepreneurship initiative in combination with artificial intelligence solution, we are confident the company will be able to provide a seamless and advance services to the consumer all at once achieving it's the projected target," said Kenji.
we are confident with this transaction it will give the ability to enhanced solutions to our customers and value for our stockholders". Said the spokesperson of Mycliks.
Linfluence and Mycliks together are expected to:
- Strengthen Mycliks expansion plan with the proven leadership and market strategy of Linfluence's experienced team.
Linfluence Authorizes Share Repurchase Program
Linfluence also announced that its Board of Directors has authorized a share repurchase program of up to $50 Million to be executed over the next three years. This is consistent with the company's investment approach toward scaled-up companies. If the company demonstrates a consistent yet profitable performance hence Linfluence will further add its ownership percentage in Mycliks through the repurchase program. However, it is depending on the company's strong growth and will be based on market conditions, share price, and other factors. Repurchases may be made in the open market or privately negotiated transaction.
Timing and Approvals
Mycliks-Linfluence transaction is expected to close in the last quarter of 2020, subject to Myclik's selling shareholder process, the satisfaction of customary closing conditions, tax regulations, and receipt of regulatory approvals.
Management and Headquarters
Following the closing of the transaction, Mycliks will be led by the Founder & CEO Danial, and remain its headquarter in California.
Advisors
The Bank of America will be the managing Advisor of Mycliks and Will Tacher as Linfluence Tech's Advisor.
Nakamatsu Shaoji
LINFLUENCE TECH
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