Week Ending 03.10.19
IDEANOMICS ACQUIRES MALAYSIAN EV SALES UNIT
SURGE FILES NASDAQ UPLIST
GREE AFFILIATE RAISES USD 20M
AND MORE ↓
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MERGERS AND ACQUISITIONS
Ideanomics (formerly called Seven Stars Cloud), the New York City-based AI and blockchain services firm, said it is acquiring a 51% stake in Malaysia's Tree Motion and a 11% stake in its parent, Tree Manufacturing. The parent is an electric vehicle maker and the Tree Motion subsidiary is the company’s sales arm.
Last week Ideanomics acquired SolidOpinion, the marketing firm using AI. In September last year Ideanomics acquired FinTalk, the secure messaging service, and said it was taking a 10% stake in Asia Times, the news service. Ideanomics also said it entered into a share swap with Liberty Biopharma, which changed its name to HooXi. The specific details of the swap were not disclosed.
Surge, the Memphis, Tennessee-based blockchain company, said it plans to uplist to the Nasdaq.
StrongBlock, the Cayman Islands-based blockchain company, said it raised USD 4m in seed round led by Pangea Blockchain Fund.
GFR Fund, the San Francisco, California-based venture capital fund, said it raised USD 20m for a second fund focused on VR/AR, AI and blockchain. GFR Fund is an affiliate of Japanese mobile gaming company GREE.
Armour Scientific, the San Francisco, California-based cybersecurity firm, said it is emerging from stealth. The company is developing a wearable identity device using blockchain.
Legal & Regulatory
Regulatory uncertainty is harming blockchain innovation, according to the MIT Technology Review.
Germany's financial regulator rules tokens are not securities, according to a Coin Telegraph article. The German government plans to unveil a comprehensive blockchain strategy in the middle of this year.