GlobalTech Acquires Majority Stake in UK Footwear Brand Moda in Pelle

GlobalTech Corporation (OTC: GLTK), a U.S.-based technology holding company specializing in AI, big data, and emerging technologies, has announced a strategic move into the retail sector by acquiring a 51% controlling interest in the premium UK footwear brand Moda in Pelle. The definitive agreement, expected to close within 30 days subject to customary conditions, involves purchasing the stake through a combination of common stock and Convertible Series A Preferred Stock. This acquisition of a brand that generated approximately $37 million in net revenue last year is designed to create a new revenue stream for GlobalTech while strengthening its operational footprint in the United Kingdom. CEO Dan Green emphasized that the deal aligns perfectly with the company's overarching value-creation strategy and will facilitate the deployment of advanced technology across both entities.

The core of this strategic acquisition lies in the planned integration of GlobalTech's proprietary Thrivo AI platform into Moda in Pelle's operations, aiming to significantly enhance the brand's e-commerce capabilities. This technological infusion represents a tangible application of GlobalTech's AI expertise into the consumer goods market, potentially revolutionizing how the footwear brand engages with customers online and manages its digital sales channels. The financial structure of the deal, involving stock that converts upon a future Nasdaq Capital Market uplisting, underscores a long-term growth vision. For comprehensive details, the full press release is available for review, providing investors and industry observers with deeper insights into this cross-sector merger of technology and fashion.

This news was disseminated through AINewsWire (“AINW”), a specialized communications platform within the Dynamic Brand Portfolio focused on artificial intelligence advancements. AINW, powered by IBN (InvestorBrandNetwork), provides a suite of services including access to a vast network of wire solutions, article syndication to thousands of outlets, and enhanced press release distribution to ensure maximum market impact. The platform serves as a critical conduit for companies like GlobalTech to reach a wide audience of investors, consumers, and journalists, cutting through the information overload in today's fast-paced market. This strategic partnership between a tech innovator and a legacy brand highlights the growing convergence of digital technology and traditional retail, a trend closely monitored by the financial and tech communities.