MySize Subsidiary's LOI to Acquire EyeFitU Assets Targets $440K in Accretive Annual Revenue
Summary
My Size, Inc.'s subsidiary, Naiz Fit, has signed a non-binding Letter of Intent (LOI) to acquire selected assets from EyeFitU AG, a Switzerland-based provider of digital sizing and fit technology. This strategic acquisition aims to expand MySize's AI sizing platform and global customer base, particularly in key European markets. The acquired EyeFitU assets are expected to generate approximately $440,000 in annual recurring revenue (ARR), which is anticipated to be accretive to Naiz Fit and MySize's overall revenue. Given MySize's current market capitalization, this potential revenue addition is highly material and could significantly enhance the company's financial performance. Traders will closely monitor the progress of this transaction, as it is subject to due diligence and the execution of definitive agreements.
At the time of this announcement, MYSZ was trading at $0.61 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.3M. The 52-week trading range was $0.50 to $3.04. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.