Nightfood Holdings Inc. (OTCQB: NGTF), doing business as TechForce Robotics, announced it has signed a non-binding letter of intent to acquire a 51% controlling interest in Taiwan-based Jiun Jiang Enterprise Co. Ltd., a manufacturer of semiconductor automation, advanced packaging equipment, robotics and intelligent manufacturing systems. The proposed all-stock transaction would make JJ Enterprise a majority-owned operating subsidiary, with the purchase price tied to audited financial performance under U.S. GAAP and subject to due diligence, definitive agreements and other closing conditions.
According to the company, the acquisition would advance its strategy to build a diversified automation and advanced manufacturing platform spanning semiconductor manufacturing, AI infrastructure, pharmaceutical automation and industrial technology. Under the proposed framework, JJ Enterprise’s implied enterprise value would begin at approximately $100 million based on a $20 million annual revenue run rate, with additional stock-based earnout consideration tied to higher audited revenue milestones. Nightfood noted the transaction cannot close until it completes a planned uplisting to a U.S. national securities exchange and all other required approvals are obtained.
The announcement highlights Nightfood’s pivot toward high-tech automation after previously focusing on the hospitality sector. The company has been rebranding as TechForce Robotics to reflect its new strategic direction. The acquisition of JJ Enterprise, a player in the semiconductor automation space, positions Nightfood to capitalize on growing demand for advanced manufacturing equipment driven by AI and chip production.
For more details on the press release, visit https://ibn.fm/TLJaa. Additional information about Nightfood Holdings is available in the company’s newsroom at http://ibn.fm/NGTF.
