Nightfood Holdings (OTC: NGTF) to Expand AI Robotics Portfolio with Skytech Acquisition
The artificial intelligence (AI) industry is all set to take over a range of sectors, and one of those is automation, a sector in which Nightfood Holdings Inc. (OTC: NGTF) is a major operator. Yesterday, the company came into considerable focus among investors after it announced that it would acquire Skytech Automated Solutions Inc.
LOI Signed
In the news release yesterday, Nightfood Holdings announced that it had inked a letter of intent pertaining to the acquisition of Skytech Automated Solutions. Skytech is based out of Delaware and best known for being a major innovator in smart service technologies and robotics. Considering the fact that Nightfood Holdings is a major player in the AI-backed automation offerings for the hospitality industry, the acquisition could prove to be a pivotal one in the long term.
Further Information
In this context, it should be noted that Nightfood Holdings has been working on an aggressive expansion strategy, and the acquisition further reinforced its position in the fast-growing RAAS (robot as a service) sector. In light of the latest move from the company, it would be interesting to see if the stock gains any attention from investors over the course of the coming days or not.
Key Quote
“With this acquisition, we are executing our vision of embedding AI-powered robotics into high-demand hospitality applications,” said Jamie Steigerwald, Chairman of Nightfood Holdings. “Skytech’s innovative technology aligns perfectly with our growth strategy, allowing us to scale automation services across hotels, food service, and senior care communities. Our mission remains clear: build long-term shareholder value while solidifying our leadership in AI-driven automation.”
Fundamentals
| P/E Ratio | -0.4900 |
| PEG Ratio | -0.01 |
| Price to Book | -0.28 |
| Price to Cash Flow | – |
| Price to Free Cash Flow | – |
| Total Sales (TTM) | 0.12 M |
| Revenue per Share (TTM) | 0.00 |
| Shares Outstanding | 128.957 M |
| Share Float (%) | 110.58 M (85.75%) |
| % Held by Institutions | 0.54 |