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Paltalk ( (PALT) ) has issued an update.
Paltalk, Inc. has entered into a Divestiture Agreement to sell its telecommunications service ‘Vumber’ and applications ‘Paltalk’ and ‘Camfrog’ to Meteor Mobile Holdings for $1.35 million. This move allows Paltalk to exit the video-based and telecommunications service sector. The deal includes potential earnout payments based on future revenue performance and comes amid Paltalk’s broader strategic merger plans, highlighting the dynamic nature of the financial markets and corporate restructuring.
See more insights into PALT stock on TipRanks’ Stock Analysis page.