Medigus says Jeffs’ Brands to acquire 50.1% interest in B24Chat business

Medigus (MDGS) announced that Jeffs’ Brands (JFBR) has entered into a non-binding letter of intent to acquire a majority controlling interest of the B24Chat business, an AI marketing platform specializing in enterprise-level omnichannel and conversational automation management. The entry into the LOI and the transaction contemplated thereby aligns with Jeffs’ Brands’ commitment to leveraging state-of-the-art technologies for enhancing its in-house marketing and service capability and revenue growth. This acquisition signifies Jeffs’ Brands’ strategic entry into the AI domain, complementing its existing suite of businesses. B24Chat, an AI-based customer service platform, offers an omnichannel and conversational automation management solution that helps companies streamline their customer interactions across various platforms. Pursuant to the LOI and subject to entry into a definitive agreement, the parties will establish a new company in which Jeffs’ Brands will invest an aggregate amount of $1,000,000, of which $500,000 will be paid in cash and $500,000 will be paid in newly-issued ordinary shares of Jeffs’ Brands, in consideration for 50.01% of NewCo’s fully diluted share capital. The founder of B24Chat shall assign all of its rights, title and interest in the technology of the B24Chat business in consideration for 49.99% of NewCo’s fully diluted share capital.