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GlobalTech Corporation Enters Into Definitive Agreement to Acquire Moda in Pelle, to Deliver a Boost to its Operations
GlobalTech Corporation Enters Into Definitive Agreement to Acquire Moda in Pelle, to Deliver a Boost to its Operations.
About this update from Globaltech Corp
[{"type":"text","content":"\r\n\r\n \r\n \r\n GlobalTech Corporation Enters Into Definitive Agreement to Acquire Moda in Pelle, to Deliver a Boost to its Operations\r\n \r\n \r\n\r\n\r\nGlobalTech Corporation Enters Into Definitive Agreement to Acquire Moda in Pelle, to Deliver a Boost to its Operations\r\n\r\n\r\n\r\n\r\n\r\nRENO, Nev., Dec. 02, 2025 (GLOBE NEWSWIRE) -- GlobalTech Corporation (OTC:GTLK)(“GTC” or \"GlobalTech”), a U.S. based technology holding company specializing in artificial intelligence (AI), big data, and emerging technologies, today announced the entry into a definitive purchase agreement to acquire a 51% interest in 123 Investments Limited d/b/a Moda in Pelle (MIP), a premium footwear brand established in 1975, with a strong presence in the UK market. MIP has remained at the cutting edge of technology deployment in its business operations and generated net revenues of approximately $37 million in its last fiscal year. The acquisition is expected to provide GTC with an additional revenue stream, significantly enhance its e-commerce capabilities through Thrivo AI activation in the MIP eco-system and strengthen its operational footprint in UK market. The Company expects the acquisition to close in the next 30 days, subject to customary closing conditions. Dan Green, GlobalTech CEO commented, \"We believe that the acquisition of MIP (which has been in business for 50 years) is a perfect fit for GlobalTech as we expect it to deliver substantial value creation, enhance our technology capabilities and provide direct access to the lucrative UK market. We further expect, Thrivo AI deployment in MIP’s operations will further boost business operations for GlobalTech and MIP. We look forward to collaborating with the 123 Investments team as we work to complete this exciting transaction.” DETAILS OF THE TRANSACTION GTC is acquiring a 51% stake in MIP in consideration for shares of common stock and Convertible Series A Preferred Stock of GTC. The Convertible Series A Preferred Stock, among other rights, convert into common stock of GlobalTech on the date that our common stock is uplisted to the NASDAQ Capital Market, as well as upon other conditions being met. The Series A Preferred Stock do not accrue any dividends. 123 Investments d/b/a Moda in Pelle (MIP) is a British footwear brand established in 1975. MIP ...