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QuasarEdge Acquisition, AI Firm Robseek Intelligence Agree to $1 Billion Merger

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QuasarEdge Acquisition (QRED), a blank-check company, and Robseek Intelligence agreed to merge in a deal that implies a pre-money equity value of $1 billion.

Under the agreement, a QuasarEdge subsidiary will become the publicly listed company, while Robseek will operate as its wholly owned subsidiary, Robseek said Tuesday.

The boards of both companies approved the transaction, which remains subject to shareholder and regulatory approvals and stock-exchange listing approval.

Robseek operates the NOVA AI advertising platform and is developing ALIF AI, an AI smart-device system built around an integrated device, data, AI, and services model.

QuasarEdge shares rose 3.8% in after-hours trading.

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