Livento Group (NUGN) Signs A Binding LOI to Acquire a Company That Specializes in AI and Robotics Software Development

NuGene International, a dynamic group that specializes in acquiring and developing companies with disruptive business models in film, content, and technology for fund managers, announced signing a binding Letter of Intent for the acquisition of a Software Engineering Company focused on AI and Robotics.

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“We are excited to announce that we finalized our due diligence and valuation negotiations,” commented David Stybr Livento Group CEO. “We are at the stage where we have confirmed our intentions in the transaction, and we have drafted the final closing documentation and established the process regarding this acquisition. We assume we will sign the final documentation in January 2023, at which point, full information about the transaction will be released including a future business plan of how this acquisition helps the Acquired company and Livento Group achieve its objectives”

Livento Group will complete the acquisition in full in exchange for shares. The acquisition adds positive cash flow from day one. Livento will provide full business support as well as assist the company to obtain government subsidies that can play a major role in the further development of the business. EU grants and subsidies of $750,000 are available to enhance the growth and development of artificial intelligence and robotics R&D services in the area this company focuses on.

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The target company has a team of eight engineers that are delivering services and products to various customers in Europe, with revenue forecasted at USD $400,000 in 2023 with a projected increase in revenues of 50% YOY, and a positive EBITDA in 2022 and beyond. This is a fully sustainable acquisition offering services that have the potential to reach the US market. David Stybr added ‘’Advances in AI and Robotics will fundamentally transform how organizations research, trade and transact business and through this acquisition Livento aims to enhance its product offering and adapt to changing market conditions.”

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