VerifyMe saw its stock price skyrocket by over seventy five percent on Monday. This massive jump happened after the company announced it wants to join forces with Open World Limited. Open World is a specialist in the world of digital finance and blockchain technology. Investors are clearly very excited about what these two businesses can do together.
The plan is to combine both companies into one single business that will trade on the Nasdaq stock market. If everything goes through, the current owners of Open World will own most of the new company. The leader of Open World, Matt Shaw, is expected to take over as the top boss of the entire combined business. This change would also mean the company gets a brand new name and a new symbol on the stock exchange.
By working together, the companies want to mix their best skills. VerifyMe is great at tracking products and protecting brands from fakes. Open World is an expert at turning real-world assets into digital tokens that can be traded easily online. Their goal is to create a very secure system that big businesses can use to prove their products are real and safe.
Matt Shaw mentioned that his team has already helped launch major digital projects worth billions of dollars. He believes this new partnership will take their successful strategy and apply it to even more businesses. The new platform will focus on making sure digital data is verified and trustworthy.
Right now, both teams have sixty days to look closely at each other’s books and finalize the deal. There are still many steps to complete, like getting approval from government regulators and company boards. Before the deal closes, VerifyMe might even pay a special cash bonus to its current stockholders. However, the companies warned that there is no guarantee the deal will be finished as planned.