M&A
confidence high
sentiment positive
materiality 0.75
Quality Industrial signs binding term sheet for Actelis to acquire 61-75% of QIND shares
Quality Industrial Corp.
- Actelis will issue 19.99% of its common stock plus preferred non-voting shares as consideration.
- Closing target within 60 days, subject to due diligence, regulatory approval, and additional funding.
- QIND reported 2023 revenue of $11M and net income of $1.8M; Q1 2024 revenue ~$3.1M, net income ~$0.76M.
- QIND services nearly 40,000 customers in UAE with 7 facilities and ~100 employees.
- Synergies with Actelis' IoT networking expected to reduce costs and enable new contracts.