Cuentas, Inc. to Acquire Majority Stake in World Health Energy Holdings (WHEN Group)
October 19, 2023
Cuentas, Inc. (Nasdaq: CUEN) signed a binding letter of intent to acquire a majority stake in World Health Energy Holdings, Inc. (WHEN Group) from principal shareholder UCG, Inc., resulting in WHEN becoming a majority-owned subsidiary of Cuentas upon closing. The deal is intended to integrate WHEN Group's cybersecurity, AI and telecom technologies into the Cuentas mobile/fintech platform to expand product capabilities and protect Cuentas' partners and users.
- Buyers
- Cuentas, Inc. (Nasdaq: CUEN)
- Targets
- World Health Energy Holdings, Inc. (WHEN Group)
- Sellers
- UCG, Inc.
- Industry
- Cybersecurity
- Location
- Florida, United States
- Transaction Type
- Buyout
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