FF EAI Robotics To Acquire Faraday Future's Robotics Business For $200 Million

India, Oct. 14 -- FF EAI Robotics Ecosystem Inc. (FFR) on Thursday announced a definitive agreement to acquire the entire robotics ecosystem business of Faraday Future Intelligent Electric Inc. (FFAI) for approximately $200 million.

The deal moves the companies' previously announced transaction process to the definitive agreement stage.

The parties have also agreed to a valuation of approximately $60 million for FFR, formerly known as AIxCrypto Holdings Inc.

To help fund the acquisition, FFR has secured up to $10 million in its first round of PIPE financing.

googletag.cmd.push(function() { googletag.display('div-gpt-ad-1568189509843-0'); });

Once the deal is completed, FFAI will own approximately 65.7% of FFR. All newly issued shares r...