Quantum X Inc. to Acquire Majority Stake in TraderMade Systems Ltd.
Quantum X Inc., a publicly traded company focused on quantum technology and artificial intelligence, has entered into a binding letter of intent (LOI) to acquire an 80% stake in UK-based financial market data provider TraderMade Systems Ltd. The acquisition aims to integrate high-quality historical financial datasets from TraderMade into Quantum X's AI and quantitative computing ecosystems. Under the terms outlined, Quantum X will pay $550,000 for the shares through a fixed issuance of 550 million common shares at $0.001 per share. The transaction also includes acquiring all rights to an outstanding receivable from TraderMade worth approximately $544,000 plus interest. An independent valuation and PCAOB-audited financial statements are required for the deal's completion. The proposed acquisition is subject to due diligence, regulatory approvals, shareholder consents, and other customary conditions within a 90-day period. The transaction involves an affiliated party relationship as CMH, which owns TraderMade, is controlled by Emil Assentato.
Topics: artificial intelligence financial data market infrastructure quantum technology