UTime Limited announced a nonbinding letter of intent to acquire 100% of Feixiaohao Technology Inc., operator of the Feixiaohao Web3 data analytics and asset pricing platform, for up to USD 80 million. The proposed purchase price is structured as USD 64 million in UTime ordinary shares or convertible preferred shares and USD 16 million in cash. The transaction is positioned as UTime’s strategic entry into the rapidly growing Web3 and blockchain data infrastructure sector, with the potential to bring millions of cryptocurrency users into its expanding digital ecosystem.
Feixiaohao Technology Inc. owns and operates one of the most comprehensive Web3 data platforms, serving millions of cryptocurrency investors and Web3 enthusiasts worldwide. The platform provides essential data services including digital asset pricing, on-chain data analytics, project tracking, and market sentiment monitoring. With extensive coverage across major public blockchains and thousands of digital assets, Feixiaohao has established itself as a trusted gateway for users navigating the cryptocurrency landscape. The acquisition would include Feixiaohao’s technology platforms, source code, databases, trademark rights, and key employee contracts and partnerships related to the Feixiaohao platform.
UTime said the acquisition would position it to leverage Feixiaohao’s data capabilities with its hardware expertise to enable integrated Web3 offerings. The parties have commenced preliminary discussions and intend to negotiate a definitive agreement, subject to customary conditions, following execution of the term sheet. While the LOI outlines the proposed structure and assets, there is no guarantee the deal will close.
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