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LONDON - Vault Ventures Plc (AQSE:VULT) announced Monday it has signed non-binding heads of terms for the proposed acquisition of System7 Ventures Limited, a UK-based AI development agency.
The proposed all-share transaction values System7 at approximately £1 million, according to a press release statement from the company. System7 specializes in developing AI systems, large language model integrations, and crypto-native infrastructure.
Upon completion, System7 would become Vault’s in-house development and incubation arm, supporting the company’s three-year strategy to launch nine new ventures across AI and crypto sectors.
The deal terms include System7 CEO Nicolas Baxter (NYSE:BAX) joining Vault’s Board of Directors, with lock-in provisions for System7 shareholders to align long-term incentives.
Vault Ventures, which trades on the Aquis Stock Exchange, focuses on blockchain, AI, and augmented reality technologies. The company operates a regulated subsidiary in Dubai’s DMCC free zone.
Both parties are currently conducting legal and commercial due diligence before finalizing a Share Purchase Agreement.
Brian Stockbridge, Chair of Vault Ventures, stated in the announcement that System7 would become "the engine room" of the company’s AI and crypto incubation strategy upon completion.
The transaction remains subject to various conditions, and completion is not guaranteed.
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