Quisitive Technology Solutions Inc. (OTC: QUISF) Stock Rallies 19%: What’s the Buzz?

In light of the announcement made by Quisitive Technology Solutions Inc. (OTC: QUISF) on March 27, it could be a good time to start tracking the stock. However, prior to that, it is important to consider the latest developments. The company, which is a major AI and Microsoft Cloud solutions provider, announced on that day that it had entered into a stock purchase agreement dated March 27, 2024.

As per the terms of the agreement, Quisitive Technology Solutions agreed to sell its BankCard USA Merchant Services Inc. unit to the Nevada-incorporated company BUSA Acquisition Co. It was also revealed that BUSA Acquisition was owned by a group of current BankCard employees. The transaction had been deemed an arm’s length transaction in the agreement. The transaction was particularly important for Quisitive Technology Solutions since it would turn the company into a purely AI and Microsoft cloud solutions provider. It would allow the company to focus on its core business.

Thanks to the transaction, it would also help the company with debt reduction to the tune of $34.6 million. Additionally, the pro-forma trailing 12-month adjusted EBITDA would be $16.4 million as of December 31, 2023. Quisitive Technology Solutions also revealed in its press release on March 27 that following the transaction, it would be in a stronger position to cash in on considerable interest in AI. It would do so through the rollout of Microsoft solutions in both CoPilot and Azure Open AI.

In order to boost shareholder value, the company would look to expand its offering of recurring managed services. Some of the other initiatives include the development of customized copilot solutions and industrial SaaS (software as a service) offerings. It is going to be interesting to see if the Quisitive Technology Solutions stock garners any attention in the coming days.

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