Expanding Portfolio Strengthens XTL’s Position in the High-Growth Web Data Market
In a significant strategic move, XTL Biopharmaceuticals (XTLB) has announced its entry into a binding term sheet to acquire The Social Proxy Ltd., a leading web data company specializing in ethical, IP-based proxy and data extraction platforms for AI and BI applications. Under the agreement, XTL will acquire all issued and outstanding share capital of The Social Proxy, representing 44.6% ownership, in exchange for the issuance of XTL’s ADSs and a payment of US$430,000.
This acquisition aligns with XTL’s strategy to bolster its asset portfolio with high-potential ventures, particularly in the burgeoning field of AI-driven data extraction. The deal includes additional warrants tied to financial milestones over the next three years, further incentivizing growth and performance.
Shlomo Shalev, CEO of XTL, expressed confidence in the acquisition’s potential to enhance shareholder value, citing the promising growth trajectory of AI web data markets. Meanwhile, Tal Kinger, CEO of The Social Proxy, emphasized the excitement of joining forces with XTL, anticipating accelerated growth and value creation under its umbrella.
Pending shareholder approval and customary closing conditions, this acquisition marks a pivotal step forward for XTL in seizing opportunities within the dynamic AI landscape.
Read original press release:here
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