Baosheng Media Group Holdings Limited (NASDAQ: BAOS) has announced a strategic move to acquire a 40 percent equity stake in Blue Intelligence Cloud Innovation Technology (Beijing) Co., Ltd.
This acquisition is part of a memorandum of understanding between the two companies, positioning Baosheng as a significant strategic shareholder in Blue Intelligence Cloud Innovation Technology.
Despite the acquisition, Blue Intelligence Cloud Innovation Technology will continue its operations independently, with its current shareholders retaining a 60 percent equity interest.
The memorandum outlines a non-binding framework, with final transaction details, including consideration, payment terms, and governance, pending due diligence and definitive agreements.