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BGM Acquires YX to Boost AI Capabilities
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BGM Group Ltd has announced the acquisition of YX Management Company Ltd, a smart mobility technology firm, to enhance its AI strategy for the DuXiaoBao platform.
BGM Group Ltd has announced the acquisition of YX Management Company Ltd, a smart mobility technology firm, to enhance its AI strategy for the DuXiaoBao platform. In a press release, BGM stated that it will acquire 100% of YX's equity by issuing 47.5 million class A ordinary shares, valuing YX at $95 million.
The acquisition is expected to be completed by June 2025, with YX's shareholders holding approximately 32.8% of BGM's total outstanding shares. The YX team, known for their expertise in scalable operations and AI commercialization, will integrate with BGM to accelerate the AI-driven strategic upgrade of DuXiaoBao.
The integration aims to leverage YX's experience in large-scale platform development and AI applications, enhancing BGM's leadership in intelligent and digital technology innovation. This move is part of BGM's broader strategy to strengthen its AI capabilities and drive growth in its intelligent platform offerings.
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