Business
Logiq Initiates Major Restructuring Designed to Expand DataLogiq Business Unit and Unlock Value of Emerging Markets Initiatives
Logiq Initiates Major Restructuring Designed to Expand DataLogiq Business Unit and Unlock Value of Emerging Markets Initiatives.
About this update from Logiq Inc.
[{"type":"text","content":"\n NEW YORK, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Logiq, Inc. (NEO: LGIQ) (OTCQX: LGIQ), a global provider of award-winning e-commerce and fintech solutions, forecasts strong growth ahead driven by both strategic M&A that will accelerate growth in its DataLogiq business, and the strategic spinoff of its emerging markets business units. Over the past year, Logiq has acquired and integrated into DataLogiq three leading e-Commerce platforms. Through these key acquisitions, DataLogiq has become an e-Commerce industry leader in data-driven consumer intelligence and automated marketing technology. These business units, led by Logiq Consumer Marketplace (LCM), are gaining traction on the customer front while also exploring steady opportunities on the strategic partnership and potential mergers and acquisitions side. “Logiq, by way of the three recent acquisitions of Push Interactive, Fixel AI, and Rebel AI, has built an enviable platform for small to medium-sized businesses and is positioned to grow this business significantly over the next few years,” commented Brent Suen, president of Logiq. “Our feedback from customers, partners, research analysts and investors is highly encouraging yet a common theme is that they desire to see us operating at a larger scale – this combined with a promising pipeline of possible candidates for merger or acquisition opens up substantial opportunity.” Tom Furukawa, CEO of Logiq, commented: “There are a large number of peers operating in our industry segment that are privately-held, generating solid revenue, operating profit and even net income, that could be acquired for compelling valuations while at the same time, offering accretive revenue growth, margins and earnings potential. We’re looking at a number of them currently and the pipeline is growing. Though we do not have any definitive agreements in place to make any such acquisitions at this current time, we firmly believe that growth through accretive acquisition is a strong path forward and endeavor to execute on it.” As part of its M&A strategy, Logiq has begun to assess strategic alternatives, including a possible spinoff of its AppLogiq business within the next few months so it can better focus on DataLogiq’s abundant growth opportunities while AppLogiq focuses on the burgeoning emer...