Symmetry Group to acquire US AI-driven firm
- LDG expected to generate revenue of approximately Rs200 million during the current year
As part of its investment plan, Symmetry Group Limited has executed a Share Purchase Agreement (SPA) to acquire LogoDesignGuru (LDG), a US-based digital branding and technology firm.
The company informed the Pakistan Stock Exchange (PSX) on Wednesday.
According to a notice, LDG operates AI-powered design platforms, digital asset marketplaces, and hybrid design-service models serving international customers.
The US-based company was expected to generate revenue of approximately $0.7 million, i.e. Rs200 million, during the current year and is currently generating a healthy level of profitability, informed Symmetry.
“Post-acquisition, earnings are expected to improve further through cost optimisation, operational efficiencies, and revenue growth initiatives, with revenues projected to grow at a healthy year-on-year rate.
READ MORE: US tech firm AutoAcquire AI acquires Pakistani AI startup Virtuans in seven-figure deal
The acquisition aligns with Symmetry Group’s strategy to expand its international footprint and strengthen its platform-led digital capabilities.”
Symmetry is a digital technology and experiences company that specialises in digital products and services.
On Monday, the company had approved an aggregate investment plan of up to Rs1,250 million, including the acquisition of a US-based technology firm and a strategic investment in a local AI and data-driven digital company.
“The funds will also be deployed towards scaling operational capacity, supporting execution of recently secured long-term engagements, strengthening technology infrastructure, and fulfilling working capital requirements aimed at enhanced profitability,” it said.
Comments