Nightfood Holdings signs LOI to acquire 51% of Jiun Jiang

Nightfood Holdings, doing business as TechForce Robotics, has announced that it has executed a non-binding Letter of Intent (LOI) to acquire a 51% controlling interest in Jiun Jiang Enterprise, a Taiwan-based manufacturer of precision industrial, advanced packaging and semiconductor automation and thermal interface material manufacturing systems, robotics, and intelligent manufacturing solutions.

Under the LOI, California-based Nightfood would acquire its 51% interest through an all-stock share exchange, with JJ Enterprise becoming a majority-owned operating subsidiary. Consideration will be tied directly to JJ Enterprise’s performance as reflected in an anticipated PCAOB audit, aligning the stock Nightfood issues with the value of the acquired business, according to a media release.  

The proposed transaction furthers Nightfood’s anticipated transformation into a diversified automation and advanced-manufacturing platform positioned at the intersection of semiconductor manufacturing, AI infrastructure, robotics, pharmaceutical automation, and industrial technology.

“We are not pursuing a concept-stage or early-stage technology company. Through the proposed transaction, we are seeking to partner with a business that has established manufacturing capabilities, customer relationships, engineering expertise, and decades of industry experience,” Jimmy Chan, Chief Executive Officer of Nightfood Holdings and TechForce Robotics, said. “We believe these attributes, together with Nightfood’s public-company platform and growth strategy, could create a foundation for long-term growth and value creation.”