Viewbix Inc. Acquires Xynergy Ltd. for $1M
Ticker: VBIX · Form: 8-K · Filed: Apr 19, 2024 · CIK: 797542
Sentiment: neutral
Topics: acquisition, merger, expansion
TL;DR
Viewbix buying Xynergy for $1M, closes by May 31st. Big expansion play.
AI Summary
Viewbix Inc. announced on April 19, 2024, that it has entered into a binding agreement to acquire all of the outstanding equity interests of Xynergy Ltd. for a purchase price of $1,000,000. The acquisition is expected to close on or before May 31, 2024, subject to customary closing conditions. This move aims to expand Viewbix's market presence and product offerings.
Why It Matters
This acquisition could significantly expand Viewbix's market reach and enhance its product portfolio, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — The acquisition involves a significant cash outlay and integration risks, and its success depends on achieving projected synergies and market acceptance.
Key Numbers
- $1.0M — Acquisition Price (Viewbix Inc. is acquiring Xynergy Ltd. for this amount.)
- May 31, 2024 — Closing Deadline (The acquisition is expected to be completed by this date.)
Key Players & Entities
- Viewbix Inc. (company) — Acquiring company
- Xynergy Ltd. (company) — Acquired company
- $1,000,000 (dollar_amount) — Purchase price for Xynergy Ltd.
- April 19, 2024 (date) — Date of agreement
- May 31, 2024 (date) — Expected closing date
FAQ
What is the primary purpose of Viewbix Inc. acquiring Xynergy Ltd.?
The acquisition is intended to expand Viewbix's market presence and product offerings.
What is the total purchase price for Xynergy Ltd.?
The purchase price for all of the outstanding equity interests of Xynergy Ltd. is $1,000,000.
When is the expected closing date for the acquisition?
The acquisition is expected to close on or before May 31, 2024.
Are there any conditions to the closing of the acquisition?
Yes, the closing is subject to customary closing conditions.
What was Viewbix Inc.'s former name?
Viewbix Inc. was formerly known as Virtual Crypto Technologies, Inc., Emerald Medical Applications Corp., and ZAXIS INTERNATIONAL INC.
Filing Stats: 594 words · 2 min read · ~2 pages · Grade level 13.8 · Accepted 2024-04-19 16:05:32
Filing Documents
- form8-k.htm (8-K) — 35KB
- 0001493152-24-015332.txt ( ) — 197KB
- vbix-20240419.xsd (EX-101.SCH) — 3KB
- vbix-20240419_lab.xml (EX-101.LAB) — 33KB
- vbix-20240419_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Viewbix Inc. By: /s/ Amihay Hadad Name: Amihay Hadad Title: Chief Executive Officer Date: April 19, 2024 - 3 -