According to an announcement on Jan.3, blockchain fintech firm GammaRey signed a merger agreement with financial e-commerce and consumer data analytics company GoLogiq. Both companies are based in the U.S., while GoLogiq focuses on customers in Southeast Asia. 

As stipulated by the terms, GoLogiq will issue $320 million in common stock to acquire 100% of GammaRey's outstanding shares. The transaction is anticipated to be completed within the next few weeks, subject to conditions. As told by the two parties, the merger aims to "focus on the high-growth market of wealth management for Generation Z and Millennials." Regarding the transaction, Brent Suen, chairman of GoLogiq, commented:

"Through this highly synergistic merger, we will have achieved our goal for GoLogiq to become a comprehensive fintech platform for underserved businesses and consumers that is generating strong revenue growth and cash flow."

(by Zhiyuan Sun)