FingerMotion, Inc. (Nasdaq: FNGR) has announced a strategic acquisition of a 9.9 percent stake in Lyken AI Computing Inc. from Alset AI Ventures Inc. for $500,000, payable in FingerMotion common stock.
This acquisition marks FingerMotion's entry into the enterprise computing market, aiming to establish a recurring-revenue enterprise compute franchise alongside its existing mobile data and telecommunications services.
The transaction is pending approval from the TSX Venture Exchange, which is required for Alset AI Ventures Inc.
FingerMotion plans to expand its involvement in Lyken and its supporting infrastructure, contingent on commercial success and regulatory conditions.
This move is part of a broader strategy to develop enterprise compute as a distinct and scalable business line.
“This is a deliberate and intentional pivotal move for FingerMotion,” said Jolie Kahn, Chief Executive Officer of FingerMotion. “For a decade the Company has operated at the intersection of telecommunications infrastructure and data at enterprise scale. Enterprise computing is the natural extension of that capability, and it is where we intend to build the next phase of this Company."