Fintech Companies GoLogiq and GammaRey Sign Merger Agreement

GoLogiq, Inc., a U.S.-based global provider of fintech and consumer data analytics, has signed a definitive share exchange agreement with GammaRey, Inc., a privately-held fintech ecosystem.  

Under the now definitive terms of the proposed agreement announced in December, GammaRey has merged with GoLogiq as a wholly owned subsidiary in an all-stock transaction. The transaction is anticipated to be completed within the next few weeks, subject to customary closing terms. The transaction will follow the spin-off of GoLogiq from Logiq, Inc. that was completed early last year.

The combined company plans to initially focus on the high-growth market of wealth management for Generation Z and Millennials. This new generation of wealth-builders represents the sharing economy that will be powered by digital banking solutions, such as virtual payments, lending and loyalty, all which can reside in a single, easy to use mobile application or embedded finance solution.

Coinciding with the signing of the definitive agreement, GoLogiq chairman, Brent Suen, has been appointed interim CEO of GoLogiq, succeeding Matthew Brent who has left the company to take a new executive position at a leading video game publisher.

"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," said Suen. "We see huge opportunities ahead as we integrate our respective powerful fintech platforms and set the stage for continued growth and profitability in the new year."