Medigus: Jeffs' Brands to Acquire 50.01% Interest in an AI marketing Business to Enhance Its Machine Learning Capabilities
07 Juli 2023 - 3:00PM
Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in
advanced medical solutions, innovative internet technologies and
electric vehicle and charging solutions, announced today that
Jeffs' Brands Ltd. (“Jeffs’ Brands”) (owned 34.87% by Medigus) a
data-driven E-commerce company operating on the Amazon Marketplace,
has entered into a non-binding letter of intent ("LOI") to acquire
a majority controlling interest of the B24Chat business, an AI
marketing platform specializing in enterprise-level
omnichannel and conversational automation management.
The entry into the LOI and the transaction contemplated thereby
aligns with Jeffs' Brands' commitment to leveraging
state-of-the-art technologies for enhancing its in-house marketing
and service capability and revenue growth.
This acquisition signifies Jeffs' Brands' strategic entry into
the AI domain, complementing its existing suite of businesses.
B24Chat, an AI-based customer service platform, offers an
omnichannel and conversational automation management solution that
helps companies streamline their customer interactions across
various platforms.
Pursuant to the LOI and subject to entry into a definitive
agreement, the parties will establish a new company ("NewCo") in
which Jeffs’ Brands will invest an aggregate amount of $1,000,000,
of which $500,000 will be paid in cash and $500,000 will be paid in
newly-issued ordinary shares of Jeffs’ Brands, in consideration for
50.01% of NewCo’s fully diluted share capital. The founder of
B24Chat shall assign all of its rights, title and interest in the
technology of the B24Chat business in consideration for
49.99% of NewCo’s fully diluted share capital.
The B24Chat platform offers companies the ability to build and
operate their own branded, sales-focused websites or easy-to-use
iOS & Android apps. By connecting to a company's website,
customer relationship management (CRMs) and/or enterprise resource
planning (ERP), B24Chat's smart bots can "read" and "look" through
content, gathering information about products and services, as well
as updating news about the company and the market. The bot even
learns on its own, developing unique scenarios to prepare for
conversations with clients.
About Medigus
Based in Israel, Medigus Ltd. (Nasdaq:
MDGS) is a technology company focused on innovative growth
partnerships, mainly in advanced medical solutions, digital
commerce and electric vehicle markets. Medigus' affiliations in the
medical solutions arena include ownership in Polyrizon Ltd. and
ownership in industry 4.0 company, ScoutCam Inc. The Company’s
affiliates in digital commerce include Gix Internet Ltd., Jeffs'
Brands Ltd. and Eventer Technologies Ltd. In the electric vehicle
market, Charging Robotics Ltd. and Revoltz Ltd. are also part of
the Company’s portfolio of technology solution providers. To learn
more about Medigus’ advanced technologies, please
visit http://www.medigus.com/.
Cautionary Note Regarding
Forward Looking Statements
This press release may contain
statements that are “Forward-Looking Statements,” which are based
upon the current estimates, assumptions and expectations of
Medigus’ management and its knowledge of the relevant market. The
company has tried, where possible, to identify such information and
statements by using words such as “anticipate,” “believe,”
“envision,” “estimate,” “expect,” “intend,” “may,” “plan,”
“predict,” “project,” “target,” “potential,” “will,” “would,”
“could,” “should,” “continue,” “contemplate” and other similar
expressions and derivations thereof in connection with any
discussion of future events, trends or prospects or future
operating or financial performance, although not all
forward-looking statements contain these identifying words. These
forward-looking statements represent Medigus’ expectations or
beliefs concerning future events, and it is possible that the
results described in this press release will not be achieved. By
their nature, Forward-Looking Statements involve known and unknown
risks, uncertainties and other factors which may cause future
results of Medigus’ activity to differ significantly from the
content and implications of such statements. Other risk factors
affecting Medigus are discussed in detail in Medigus’ filings with
the Securities and Exchange Commission. Forward-Looking Statements
are pertinent only as of the date on which they are made, and
Medigus undertakes no obligation to update or revise any
Forward-Looking Statements, whether as a result of new information,
future developments or otherwise. Neither Medigus nor its
shareholders, officers and employees, shall be liable for any
action and the results of any action taken by any person based on
the information contained herein, including without limitation the
purchase or sale of Medigus’ securities.
Company Contact:Tali
DinarChief Financial Officer+972-8-6466-880ir@medigus.com
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