UTime Announces Plan to Acquire Feixiaohao for Up to $80 Million

KuCoinFlash

Release Time: 03/13/2026 12:56:51

Summary

Nasdaq-listed UTime (WTO) announced on March 13 that it has signed a non-binding letter of intent to acquire Feixiaohao for up to $80 million. The transaction includes $64 million in stock or convertible preferred shares and $16 million in cash. UTime intends to leverage Feixiaohao’s Web3 data platform to expand into blockchain data infrastructure. The platform tracks millions of crypto users and could enable UTime to integrate digital asset data with its hardware products. This move aligns with growing interest in Web3 news and inflation data tracking within the crypto sector.

BlockBeats news: On March 13, Nasdaq-listed company UTime (WTO) announced it has signed a non-binding letter of intent to acquire 100% of the equity in the crypto data platform Feixiaohao for up to $80 million. The transaction is expected to consist of $64 million in stock or convertible preferred shares and $16 million in cash.

If the transaction is completed, UTime plans to enter the blockchain data infrastructure sector by leveraging Feixiaohao’s Web3 data platform, which reaches millions of cryptocurrency users, and explore integrating digital asset data services with its mobile and smart hardware products.

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