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AGBA and Triller Merge to Create a $4 Billion Powerhouse, Unleashing a Game-Changing Power in Digital Content and Financial Services

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AGBA and Triller merge to create a $4 billion powerhouse, combining financial services with AI-driven content creation. Triller's technology bridges creators, brands, and users, enhancing digital engagement. AGBA's financial expertise combined with Triller's AI capabilities aims to revolutionize global digital ecosystems. The merger is expected to accelerate growth, maximize synergies, and establish new benchmarks in technology, finance, and media convergence.
AGBA e Triller si fondono per creare una potenza da 4 miliardi di dollari, unendo servizi finanziari e creazione di contenuti guidata dall'intelligenza artificiale. La tecnologia di Triller collega creatori, marchi e utenti, potenziando l'interazione digitale. L'esperienza finanziaria di AGBA combinata con le capacità AI di Triller mira a rivoluzionare gli ecosistemi digitali globali. Si prevede che la fusione accelererà la crescita, massimizzerà le sinergie e stabilirà nuovi benchmark nella convergenza di tecnologia, finanza e media.
AGBA y Triller se fusionan para crear una potencia de 4 mil millones de dólares, combinando servicios financieros con la creación de contenido impulsado por inteligencia artificial. La tecnología de Triller une a creadores, marcas y usuarios, mejorando el compromiso digital. La experiencia financiera de AGBA combinada con las capacidades de IA de Triller tiene como objetivo revolucionar los ecosistemas digitales globales. Se espera que la fusión acelere el crecimiento, maximice las sinergias y establezca nuevos estándares en la convergencia de tecnología, finanzas y medios de comunicación.
AGBA와 Triller가 합병하여 40억 달러 규모의 강력한 기업을 창출하며, 금융 서비스와 AI 주도 콘텐츠 제작을 결합합니다. Triller의 기술은 창작자, 브랜드 및 사용자를 연결하여 디지털 참여를 강화합니다. AGBA의 금융 전문 지식과 Triller의 AI 능력은 글로벌 디지털 생태계를 혁신할 것을 목표로 합니다. 이 합병은 성장을 가속화하고 시너지를 극대화하며 기술, 금융 및 미디어 융합에서 새로운 벤치마크를 설정할 것으로 예상됩니다.
AGBA et Triller fusionnent pour créer une puissance de 4 milliards de dollars, combinant les services financiers à la création de contenu propulsée par l'intelligence artificielle. La technologie de Triller relie les créateurs, les marques et les utilisateurs, améliorant l'engagement numérique. L'expertise financière d'AGBA combinée aux capacités d'IA de Triller vise à révolutionner les écosystèmes numériques mondiaux. La fusion devrait accélérer la croissance, maximiser les synergies et établir de nouveaux repères dans la convergence de la technologie, de la finance et des médias.
AGBA und Triller fusionieren, um ein 4 Milliarden Dollar schweres Kraftwerk zu schaffen, das Finanzdienstleistungen mit KI-gesteuerter Inhaltserschaffung kombiniert. Trillers Technologie verbindet Schöpfer, Marken und Nutzer und steigert das digitale Engagement. Die finanzielle Expertise von AGBA in Kombination mit den KI-Fähigkeiten von Triller zielt darauf ab, globale digitale Ökosysteme zu revolutionieren. Von der Fusion wird erwartet, dass sie Wachstum beschleunigt, Synergien maximiert und neue Maßstäbe in der Konvergenz von Technologie, Finanzen und Medien setzt.
Positive
  • The merger between AGBA and Triller is expected to value the combined company at approximately $4 billion.
  • Triller, a leading AI-powered technology platform, facilitates interactions between creators, brands, and users, generating over 500 million interactions quarterly across 436 million consumer accounts.
  • AGBA, a prominent financial services company in Hong Kong, serves over 400,000+ individual and corporate customers with access to 1,800+ financial products.
  • The merger aims to capitalize on Triller's large user base, accelerate revenue growth, and maximize synergies between AGBA's customer base and Triller's offerings.
  • The combined entity will have one of the largest creator shareholder bases globally, including notable artists, influencers, and institutions.
  • Leadership for the combined entity post-merger will include Bobby Sarnevesht as Triller CEO, Bob Diamond as Group Chairman, and Wing-Fai Ng as Group CEO.
Negative
  • None.

The proposed merger between AGBA and Triller signals a substantial shift in the digital content and financial services landscape. A valuation of $4 billion positions the combined entity as a significant player. Strategic mergers often lead to revenue acceleration and earnings growth through synergies; however, a critical factor will be the effective integration of Triller's AI and content creation with AGBA's financial services.

For AGBA stockholders, owning 20% of the combined company translates to a direct interest in Triller's diverse digital media and SaaS businesses. It is vital to assess how Triller's user engagement capabilities and partnerships with top-tier companies will benefit AGBA's client base and the overall financials of the combined entity.

Triller's role as an AI-driven social video platform and its ability to generate over 500 million interactions quarterly cannot be understated in the context of value creation for the merged entity. The digital ecosystem is increasingly content-centric and Triller's proficiency in creating interactions between creators and users is a key differentiator. This merger could disrupt the status quo, particularly if the combined entity leverages AGBA's financial expertise to further monetize these interactions.

The potential for cross-platform integration and AI-driven content personalization could set new industry standards. However, it remains to be seen how Triller's Amplify.AI technology will evolve within the financial services sector and contribute to AGBA's growth trajectory.

The merger's impact on the global digital ecosystem hinges on the combined company's ability to capitalize on the large creator shareholder base, including high-profile artists and institutions. This aspect speaks volumes about the potential branding and marketing prowess the entity may wield. Investors should consider the cultural capital that comes with celebrity and influencer endorsements and its translation into tangible financial results.

Furthermore, the reference to aggressive business models and setting industry records should be taken with measured consideration. The true test will be in post-merger execution and the ability to maintain growth momentum in a fiercely competitive market where tech giants dominate.

  • Transaction expected to value the combination of AGBA and Triller at approximately $4 billion.
  • Majority shareholder support already obtained from both AGBA and Triller.
  • At closing, Triller will be a wholly-owned subsidiary of AGBA.
  • AGBA stockholders will own 20% of the combined company, while Triller stockholders will own the remaining 80% of the combined company.

LOS ANGELES, April 18, 2024 (GLOBE NEWSWIRE) -- NASDAQ-listed, AGBA Group Holding Limited (“AGBA” or “the Company” or “the Group”) together with Triller Corp ("Triller") announced today that they have entered into a definitive merger agreement (the "Merger Agreement") to combine AGBA, the leading one-stop financial supermarket in Hong Kong, with Triller, the leading Artificial Intelligence-driven (“AI”) social video platform. The proposed business combination (the "Business Combination") will result in a valuation of the combined company at approximately $4 billion on a pro-forma basis.

This groundbreaking merger combines AGBA's financial expertise with Triller's cutting-edge AI-driven content creation and SaaS capabilities, aiming to transform global digital ecosystems.

Triller is a leading global AI-powered technology platform that facilitates the interaction between “Creators” including influencers, artists, and athletes, top global brands and users. With its Amplify.AI technology, Triller seamlessly integrates across major social media platforms, generating over 500 million interactions quarterly across 436 million consumer accounts. Triller serves as a bridge between users and Fortune 500 companies like Meta, Verizon, Nike, Disney, and Pepsi, helping enhance user engagement and bolster their digital presence.

AGBA is a leading Asia-based financial services company that serves over 400,000+ individual and corporate customers in Hong Kong. With access to a diverse range of 1,800+ financial products, comprehensive training, and integrated operational support, AGBA empowers its clients to enhance productivity and compliance while delivering a seamless customer experience.

By strategically integrating AGBA's financial services expertise with Triller's innovative suite of AI-driven digital content and SaaS offerings, this merger establishes new benchmarks in the convergence of technology, finance, and media. The combination of the two entities is expected to supercharge growth, enabling Triller to capitalize on its large user base, accelerate revenue and earnings growth, and maximize synergies between AGBA's customer base and Triller's offerings. Triller's AI and Natural Language Processing technology, along with its experience in working with creators, celebrities, and brands to generate marketing awareness through digital, live, and virtual content, will further solidify AGBA's position as Asia's leading investment advisor, comparable to a Registered Investment Advisor (RIA) in the U.S.

The Business Combination will also effectively result in the combined entity having one of the largest creator shareholder bases globally, including notable artists, influencers, and institutions such as the D’Amilio Family, Wiz Kalifa, Universal Music, Sony Music, Warner Music, Christina Aguilera, Marshmello, Ty Dolla $, Falcon, David Grutman, Shawn Gee, Des Bryant, Snoop Dogg, Tim Draper, Swizz Beats, Timbaland, Pegasus, Superbrands, Top Dawg, The Weeknd, Kendrick Lamar, Pitbull, TI, and Jake Paul.

Leadership
The leadership for the combined entity post-merger will include Bobby Sarnevesht as Triller CEO, Bob Diamond as Group Chairman, and Wing-Fai Ng as Group CEO.

Mr. Bobby Sarnevesht, Chief Executive Officer of Triller Inc. said “Through this merger, we are poised to accelerate our innovation trajectory and significantly expand our market presence, creating unparalleled value for our users and stakeholders globally. In addition, with the transaction approved by both company boards and majority shareholders, we believe this is the most efficient route for Triller to access public capital markets and secure the liquidity needed for rapid growth. Triller's Digital Media, Social Selling, AI, Combat Sports, and SaaS businesses have experienced tremendous growth, and this merger positions Triller to achieve new milestones.”

Mr. Wing-Fai Ng, Group President of AGBA Group Holding Limited stated, “With a rich history of setting records and making bold moves, we believe Triller is now on the brink of an exciting future. Its groundbreaking technology, coupled with an aggressive and strategic business model, positions it not just as a formidable competitor to tech giants but as a potential game-changer in the industry. AGBA's expertise in capitalizing on financial value from complex developments and rapid growth will provide the fuel for Triller’s rocket ships. Together, we have a lot to accomplish.”

The boards of both AGBA and Triller have approved the proposed Business Combination. The Closing is subject to regulatory and stockholder approvals and the satisfaction of other closing conditions.

Transaction Overview
At closing of the Business Combination, Triller will be a wholly-owned subsidiary of AGBA. The pro forma valuation of the combined company will be $4 billion, with the stockholders of Triller and the holders of Triller’s RSUs owning 80% of the post-Merger Group, and AGBA shareholders owning 20% of the post-Merger Group.

For more details, please refer to the Company's Report on Form 8-K filed with the Securities and Exchange Commission on 18 April 2024. The latest press release is available on the company’s website, please visit www.agba.com/ir

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About AGBA Group:
Established in 1993, AGBA Group Holding Limited (NASDAQ: “AGBA”) is a leading one-stop financial supermarket based in Hong Kong offering the broadest set of financial services and healthcare products in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) through a tech-led ecosystem, enabling clients to unlock the choices that best suit their needs. Trusted by over 400,000 individual and corporate customers, the Group is organized into four market-leading businesses: Platform Business, Distribution Business, Healthcare Business, and Fintech Business.

For more information, please visit www.agba.com

About Triller Corp:
Triller is the AI-powered open garden technology platform for creators. Pairing music culture with sports, fashion, entertainment, and influencers through a 360-degree view of content and technology, Triller uses proprietary AI technology to push and track content virally to affiliated and non-affiliated sites and networks, enabling them to reach millions of additional users. Triller additionally owns Triller Sports, Bare-Knuckle Fighting Championship; Amplify.ai, a leading generative AI platform; FITE, a premier global PPV, AVOD, and SVOD streaming service; and Thuzio, a leader in B2B premium influencer events and experiences.

For more information, visit www.triller.co

Investor Relations and Media Contact:

Ms. Bethany Lai
media@agba.com/ ir@agba.com
+852 5529 4500

Social Media Channels:
agbagroup
LinkedIn | X | Instagram | Facebook | YouTube

Important Information About the Proposed Business Combination and Where to Find It
In connection with the Merger Agreement and the proposed Business Combination, AGBA intends to file relevant materials with the SEC, including a proxy statement on Schedule 14A, which will be mailed or otherwise disseminated to the shareholders of AGBA as of the record date established for voting on the proposed transactions contemplated by the Merger Agreement. The Company may also file other relevant documents regarding the proposed business combination with the SEC. THIS PRESS RELEASE DOES NOT CONTAIN ALL THE INFORMATION THAT SHOULD BE CONSIDERED CONCERNING THE PROPOSED BUSINESS COMBINATION AND IS NOT INTENDED TO FORM THE BASIS OF ANY INVESTMENT DECISION OR ANY OTHER DECISION IN RESPECT OF THE BUSINESS COMBINATION. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF AGBA ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY BECOME AVAILABLE, INCLUDING ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.

Investors and security holders may obtain free copies of the definitive proxy statement (if and when available) and other documents that are filed or will be filed with the SEC by AGBA through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by AGBA will be available free of charge at: AGBA Group Holding Limited, AGBA Tower, 68 Johnston Road, Wan Chai, Hong Kong SAR, attention: Mr. Ng Wing Fai, Chief Executive Officer.

Participants in Solicitation
AGBA and Triller, and their respective directors and executive officers, may be deemed participants in the solicitation of proxies from AGBA’s shareholders in respect of the proposed Business Combination. AGBA’s shareholders and other interested persons may obtain more detailed information about the names and interests of these directors and officers in AGBA’s proxy statement on Schedule 14A, when it is filed with the SEC. Information about AGBA’s directors and executive officers and their ownership of AGBA ordinary shares is set forth in AGBA’s annual report on Form 10-K, filed with the SEC on March 28, 2024. These documents can be obtained free of charge from the sources specified above and at the SEC’s web site at www.sec.gov.

This press release does not contain all the information that should be considered concerning the Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination. Before making any voting or investment decision, investors and security holders are urged to read AGBA’s proxy statement on Schedule 14A and all other relevant documents filed or that will be filed with the SEC in connection with the proposed Business Combination as they become available because they will contain important information about the proposed Business Combination.

No Offer or Solicitation
This press release will not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination. This press release will also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended, or an exemption therefrom.

Forward-Looking Statements
The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 with respect to the proposed business combination. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value, the benefits of the proposed transaction, integration plans, anticipated future financial and operating performance and results, including estimates for growth, and the expected timing of the transactions. Consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of AGBA’s securities; (ii) the failure to satisfy the conditions to the consummation of the Business Combination, including the approval of the Merger Agreement by the shareholders of AGBA; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (iv) the outcome of any legal proceedings that may be instituted against any of the parties to the Merger Agreement following the announcement of the entry into the Merger Agreement and proposed Business Combination; (v) the ability of the parties to recognize the benefits of the Merger Agreement and the proposed Business Combination; (vi) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (vii) statements regarding Triller’s industry and market size; (viii) financial condition and performance of Triller, including the anticipated benefits, the implied enterprise value, the expected financial impacts of the Business Combination, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Triller; (ix) the impact from future regulatory, judicial, and legislative changes in Triller’s industry; (x) competition from larger technology companies that have greater resources, technology, relationships and/or expertise; and (xi) those factors discussed in AGBA’s filings with the SEC and those that will be contained in the definitive proxy statement relating to the Business Combination. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the definitive proxy statement and other documents to be filed by AGBA from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and while AGBA and Triller may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, subject to applicable law. Neither AGBA nor Triller gives any assurance that AGBA, or Triller, or the combined company, will achieve its expectations.


FAQ

What is the expected valuation of the combined company after the merger between AGBA and Triller?

The merger is expected to value the combined company at approximately $4 billion.

How does Triller's technology benefit users, brands, and creators?

Triller's technology facilitates interactions between creators, brands, and users, generating over 500 million interactions quarterly across 436 million consumer accounts.

What is the primary focus of AGBA as a financial services company?

AGBA serves over 400,000+ individual and corporate customers in Hong Kong with access to 1,800+ financial products.

Who will lead the combined entity post-merger between AGBA and Triller?

Leadership for the combined entity post-merger will include Bobby Sarnevesht as Triller CEO, Bob Diamond as Group Chairman, and Wing-Fai Ng as Group CEO.

What percentage of the combined company will AGBA stockholders own after the merger?

AGBA stockholders will own 20% of the combined company, while Triller stockholders will own the remaining 80%.

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