India, July 28 -- GMEX Robotics Corp. (GMEX) said Tuesday that it has agreed to buy a 30% stake in Alpha Meta AI Pte. Ltd, which operates as MediaMeta.
Under the share purchase agreement, GMEX will pay a combination of cash and GMEX common shares. GMEX also has an option to acquire additional shares that could give it a controlling stake.
The transaction includes a revenue target of more than $52.6 million over the next five years. GMEX is entitled to a partial refund of the consideration if the target is not met.
MediaMeta operates mediamata.ai and develops social-intelligence artificial intelligence and human-behavioral modeling.
GMEX said the deal gives it exclusive, perpetual, royalty-free rights to use MediaMeta's technology for it...