ShiftPixy, Inc. Announces Signed LOI to Acquire TurboScale
ShiftPixy (Nasdaq: PIXY) has announced signing a non-binding Letter of Intent to acquire TurboScale, an AI technology company specializing in GPU cloud infrastructure, for $150 million. The deal structure includes $75 million in stock and $75 million in debt. TurboScale provides GPU-accelerated infrastructure for AI model deployment and scaling. The acquisition aims to enhance ShiftPixy's platform with advanced AI capabilities for improved staffing efficiency and labor forecasting. The deal completion depends on definitive agreements, board and shareholder approval, and examination period completion.
ShiftPixy (Nasdaq: PIXY) ha annunciato di aver firmato una Lettera di Intenti non vincolante per acquisire TurboScale, un'azienda tecnologica specializzata in infrastrutture cloud GPU, per 150 milioni di dollari. La struttura dell'accordo prevede 75 milioni di dollari in azioni e 75 milioni di dollari in debito. TurboScale fornisce infrastrutture accelerate da GPU per l'implementazione e la scalabilità dei modelli AI. L'acquisizione mira a potenziare la piattaforma di ShiftPixy con capacità avanzate di intelligenza artificiale per migliorare l'efficienza del personale e le previsioni lavorative. Il completamento dell'accordo dipende dalla sottoscrizione di accordi definitivi, dall'approvazione del consiglio e degli azionisti, e dalla conclusione del periodo di esame.
ShiftPixy (Nasdaq: PIXY) ha anunciado la firma de una Carta de Intención no vinculante para adquirir TurboScale, una empresa de tecnología de IA especializada en infraestructura en la nube con GPU, por 150 millones de dólares. La estructura del acuerdo incluye 75 millones de dólares en acciones y 75 millones de dólares en deuda. TurboScale proporciona infraestructura acelerada por GPU para la implementación y escalado de modelos de IA. La adquisición busca mejorar la plataforma de ShiftPixy con capacidades avanzadas de IA para una mayor eficiencia en la plantilla y en las previsiones laborales. La finalización del acuerdo depende de la firma de acuerdos definitivos, de la aprobación del consejo y de los accionistas, y de la finalización del período de evaluación.
ShiftPixy (Nasdaq: PIXY)는 TurboScale이라는 GPU 클라우드 인프라에 특화된 AI 기술 회사 인수를 위한 비구속적 의향서에 서명했다고 발표했습니다. 인수 금액은 1억 5천만 달러입니다. 거래 구조에는 7천5백만 달러의 주식과 7천5백만 달러의 부채가 포함됩니다. TurboScale은 AI 모델 배포 및 확장을 위한 GPU 가속 인프라를 제공합니다. 이 인수는 ShiftPixy의 플랫폼을 향상시켜 인력 효율성과 노동 예측을 개선하기 위한 고급 AI 기능을 추가하는 것을 목표로 합니다. 협상은 최종 계약, 이사회 및 주주 승인, 검토 기간 완료에 따라 이루어집니다.
ShiftPixy (Nasdaq: PIXY) a annoncé avoir signé une lettre d'intention non contraignante pour acquérir TurboScale, une entreprise technologique spécialisée dans l'infrastructure Cloud GPU, pour 150 millions de dollars. La structure de l'accord comprend 75 millions de dollars en actions et 75 millions de dollars en dettes. TurboScale fournit une infrastructure accélérée par GPU pour le déploiement et l'échelle des modèles d'IA. Cette acquisition vise à améliorer la plateforme de ShiftPixy avec des capacités avancées d'IA pour une efficacité accrue du personnel et des prévisions de main-d'œuvre. La finalisation de l'accord dépend de la signature des accords définitifs, de l'approbation du conseil d'administration et des actionnaires, ainsi que de l'achèvement de la période d'examen.
ShiftPixy (Nasdaq: PIXY) hat die Unterzeichnung eines unverbindlichen Absichtserklärung zur Übernahme von TurboScale, einem auf GPU-Cloud-Infrastruktur spezialisierten KI-Technologieunternehmen, für 150 Millionen Dollar bekannt gegeben. Die Struktur des Deals umfasst 75 Millionen Dollar in Aktien und 75 Millionen Dollar in Schulden. TurboScale bietet GPU-beschleunigte Infrastruktur für die Bereitstellung und Skalierung von KI-Modellen. Die Übernahme zielt darauf ab, die Plattform von ShiftPixy mit fortschrittlichen KI-Funktionen zur Verbesserung der Personaleffizienz und der Arbeitsprognosen zu erweitern. Der Abschluss des Deals hängt von endgültigen Vereinbarungen, der Genehmigung durch den Vorstand und die Aktionäre sowie dem Abschluss der Prüfungsphase ab.
- Potential acquisition valued at $150 million indicates significant business expansion
- Strategic integration of AI technology could enhance core platform capabilities
- Deal structure includes 50% debt financing, reducing immediate equity dilution
- $75 million in stock portion will cause significant shareholder dilution
- Non-binding LOI carries execution risk and uncertainty
- Additional $75 million debt burden could impact financial flexibility
Insights
The proposed
However, several critical uncertainties exist: the non-binding nature of the LOI, pending shareholder approval and ShiftPixy's ability to integrate and monetize TurboScale's technology effectively. The
TurboScale's GPU cloud infrastructure offering addresses a critical market need for scalable AI deployment solutions. The platform's focus on cost-efficient, configurable virtual machines positions it well in the rapidly growing AI infrastructure market. For ShiftPixy, this acquisition could transform their staffing platform by enabling advanced AI-driven workforce analytics and automation capabilities.
The technical synergy potential is significant - TurboScale's GPU infrastructure could accelerate ShiftPixy's AI development in areas like demand forecasting, worker matching and performance optimization. However, successful integration will require substantial technical expertise and clear product roadmap alignment.
TurboScale provides GPU-accelerated infrastructure, enabling businesses to deploy and scale AI models effortlessly. Their platform offers cost-efficient, highly configurable virtual machines and private cloud solutions, tailored to meet the diverse needs of enterprises, from small experiments to large-scale AI deployments. ShiftPixy believes that, if this acquisition is completed, by integrating TurboScale’s advanced GPU cloud and AI technology, ShiftPixy could potentially enhance its ability to optimize staffing efficiency, improve labor forecasting, and offer advanced AI-driven workforce solutions for clients across multiple industries.
About ShiftPixy
ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.
About TurboScale
TurboScale specializes in AI infrastructure solutions, offering GPU-powered cloud services for AI model training and deployment. With a focus on scalability, efficiency, and cost-effectiveness, TurboScale empowers businesses to harness the full potential of AI technology, from development to deployment.
Forward Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the potential completion of the acquisition and the potential benefits of the acquisition, if completed. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. The results of the Company are subject to various risks and uncertainties, and could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the "SEC Filings" subsection of the "Investor Information" section of the Company’s website at https://ir.shiftpixy.com, or directly from the SEC’s website at https://www.sec.gov.
Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.
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INVESTOR CONTACT:
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800.475.3655
Source: ShiftPixy
FAQ
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