Nightfood Holdings Inc. (OTCQB: NGTF), operating as TechForce Robotics, announced it has signed a non-binding letter of intent to acquire a 51% controlling interest in Jiun Jiang Enterprise Co. Ltd. (JJ Enterprise), a Taiwan-based 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 stated that 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 that the transaction cannot close until it completes a planned uplisting to a U.S. national securities exchange and all other required approvals are obtained.
For more details, view the full press release at https://ibn.fm/TLJaa.
Nightfood Holdings, Inc., 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. For the latest news and updates relating to NGTF, visit the company’s newsroom at http://ibn.fm/NGTF.
