Phunware to buy computer company Lyte Technology to bolster its blockchain initiatives
Phunware Inc (NASDAQ:PHUN) CEO Alan Knitowski joined Proactive to discuss the tech group’s intent to acquire acquire Lyte Technology for up to $10.32 million, with $3.32 million cash at closing and the remaining $7 million tied to both time and financial performance requirements for one year post-closing.
Knitowski explains why the group took interest in Lyte Technology, a profitable, rapidly growing computer company that specializes in marketing and distributing custom, high-end computer systems off-the-shelf with advanced graphic processing units for gaming, streaming, and cryptocurrency mining.
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/960330/phunware-to-buy-computer-company-lyte-technology-to-bolster-its-blockchain-initiatives-960330.html
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