GammaRey, a blockchain fintech firm, has signed a merger agreement with GoLogiq, a financial e-commerce and consumer data analytics company, according to a Jan. 3 release. Both organizations are situated in the United States, though GoLogiq primarily serves consumers in Southeast Asia.
GoLogiq will issue $320 million in common stock to buy 100% of GammaRey’s outstanding shares, as indicated in the terms. Subject to restrictions, the transaction is expected to close within the next few weeks.
Suen also revealed that GoLogiq is nearing the end of a new acquisition target with over $9 billion in managed assets introduced by GammaRey. Following the completion of the transaction, the two parties expect to generate more than $50 million in annualized revenue in 2023.
GammaRey, based in New York, specializes in consumer digital wallets and developer software. According to the private corporation, it is a “profitable enterprise with robust cash flow” and has approximately $800 million in consumer assets.
