MySize, Inc. announced a non-binding LOI to acquire selected assets from EyeFitU AG, which includes approximately $440,000 in annual recurring revenue. This acquisition is expected to strengthen the Naiz Fit platform and enhance MySize’s ability to service European fashion brands, potentially leading to revenue growth and improved market positioning.
The acquisition could lead to increased revenue, enhancing investor sentiment and potentially driving the stock up, similar to previous M&A activities in the tech space that generated growth prospects.
Invest in MYSZ for potential revenue enhancement driven by the EyeFitU acquisition within 6-12 months.
This news falls under 'Corporate Developments' as it pertains to MySize's strategic acquisition to enhance its offerings in the fashion-tech industry. Strengthening its platform could create a competitive edge and contribute to revenue growth.