LAS VEGAS, NV / ACCESSWIRE / June 6, 2022 / ASTRADYNE, INC. ("ASTRAL DYNAMIC NETWORKS") announced today the signing of an Asset Purchase Agreement (the "APA") for the acquisition of certain valuable assets of WealthIntel, Inc.
The Parties also agreed to collaborate for a period of four years to develop technology for ASTRADYNE.
As part of the APA, Fabrizio Boccardi, who signed up as CEO and Chairman of the Board of Directors of ASTRADYNE, stated "Finalizing the APA with WealthIntel is a key milestone. With rights to the IP purchased ASTRADYNE's development and strategy to market can be implemented effectively. Following this acquisition the collaboration with WealthIntel enables ASTRADYNE to have access to valuable resources and licenses to facilitate its development and deployment of groundbreaking and transformational technology for commerce and social interaction. We look forward to working with WealthIntel and benefit from its resources toward a successful launch of our products and technologies."
The key commercial terms of the APA include the acquisition of all the IP and certain business assets of WealthIntel, as well as the assumption of WealthIntel's debt in exchange for Class X Common Stock of ASTRADYNE, holding special voting rights. In addition the APA provides ASTRADYNE the exclusive right to purchase in exchange for Class X Common Stock 100% of the outstanding stock of WealthIntel at a predetermined price. Following the closing of the APA, management investment firm Scintilla Quantum LLC became the controlling shareholder of ASTRADYNE.
With the APA signed, ASTRADYNE feels it's well positioned to initiate the last push of its software products' development toward launch and deployment of groundbreaking technology enabled services in the marketplace.
ASTRADYNE,INC. ("Astral Dynamic Networks") is a United States growth-stage technology company that creates, designs, develops, and licenses evolutionary high-tech systems, methods, tools, and applications focused on providing revolutionary means of commerce and communication via groundbreaking products and services for consumers, businesses, industries, governments, and financial institutions worldwide. ASTRADYNE is pioneering disruptive groundbreaking systems and technologies designed to revolutionize the digital highway for commerce and social interplay. Its technology solutions are transformational and designed to forge the future of commerce and social interaction, defying limitations and creating the future of business and consumer exchange through next generation commerce. www.ASTRADYNE.US
WEALTHINTEL, INC. is a United States technology company that creates designs, develops, and licenses high-tech systems and applications.
SCINTILLA QUANTUM, LLC is a United States Investment Management Company focused on Technology.
CONTACT:
James Hedberg
Jim.hedberg@astradyne.us
VP of Finance
SOURCE: Astradyne, Inc.
View source version on accesswire.com:
https://www.accesswire.com/703912/ASTRADYNE-Fixed-on-Forging-the-Commerce-of-the-Future-Gobbles-up-WealthIntels-Technology-and-Trade-Secrets
