The week may be coming to an end, but investors are going to continue to look for stocks to track this morning, and one of those could be that of Greenlite Ventures Inc. (OTC: GRNL). As it happens, the company was in focus among investors on Thursday after it made a key new announcement with regards to an acquisition.
The Acquisition
The company announced yesterday that it had been successful in signing a non-binding LOI (letter of intent) with regards to the acquisition of Grand Concierge LLC. In the news release, the company noted that the acquisition target had been established in 2016 by seasoned industry executive Vincent Grieco, and over the years it emerged as one of the notable leaders in the ticketing market for live events. Greenlite Ventures stated that it had made plans to operate Grand Concierge as a separate division.
Further Details
The company noted that the acquisition was going to be strategic in nature with the aim of establishing Greenlite Ventures as one of the tech leaders in the live event ticketing space, which is presently worth $36 billion. In light of the latest development, it may be interesting to track the stock.
CEO Quote
“This acquisition underscores our commitment to leveraging advanced AI technologies to revolutionize the transactional marketplace while expanding our revenue streams and profit potential,” said Rafael Groswirt, CEO of Greenlite Ventures, Inc. “We are excited to collaborate with the visionary team at TicketBash.com and believe that this partnership will transform the live event ticketing experience for consumers.”
