Source: Bukhta Yurii / Shutterstock.com
The first of the companies being acquired by Medigus is Smart Repair Pro, Inc. This is an e-commerce data company that makes its business on the Marketplace. MDGS is acquiring a 50.01% stake in the company.
The second company from the Medigus news is Purex, Inc. Just like with Smart Repair Pro, this is another e-commerce data company operating on Amazon Marketplace. MDGS is also acquiring a 50.01% stake in this company as well.
The Medigus news notes that the company plans to acquire its stakes in Smart Repair Pro and Purex in two ways. The first will be from direct cash investments into the companies. It will acquire its remaining stakes by purchasing shares of each of the companies’ stock from current holders.
Smart Repair Pro and Purex aren’t directly listed on the Amazon Marketplace. Instead, each of the companies operates its own brands on the website. Between them, the two companies have a total of three brands on the Marketplace, reports RTTNews.com.
Medigus is a company that develops medical devices. That includes “minimally invasive endosurgical tools and highly innovative imaging solutions across medical and industrial applications.” It was founded in 1999 and is based out of Israel.
MDGS stock was up 26.3% when markets closed on Friday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
More From InvestorPlace
The post Medigus News: MDGS Stock Moves 26% Higher on Buy of Amazon Marketplace Brands appeared first on InvestorPlace.