Nightfood Holdings (OTCQB: NGTF) doing business as TechForce Robotics, announced it has signed a non-binding letter of intent to acquire a 51% controlling interest in Taiwan-based Jiun Jiang Enterprise Co. Ltd., a manufacturer of semiconductor automation, advanced packaging equipment, robotics and intelligent manufacturing systems. The proposed all-stock transaction would make JJ Enterprise a majority-owned operating subsidiary, 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 company said the acquisition would advance its 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 the transaction cannot close until it completes a planned uplisting to a U.S. national securities exchange and all other required approvals are obtained.
To view the full press release, visit https://ibn.fm/9BcbS
About Nightfood Holdings, Inc. / TechForce Robotics
Nightfood Holdings, Inc. (OTCQB: NGTF), doing business as TechForce Robotics, is focused on AI-driven robotics, enterprise automation, hospitality automation, pharmaceutical automation, and advanced-technology commercialization. Through strategic acquisitions, partnerships, and technology-development initiatives, the Company is building a diversified automation platform serving multiple high-growth industries.
NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at http://ibn.fm/NGTF
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