Worldwide Ad-tech and Mar-Tech innovative technologies developing company Viewbix Inc (OTCMKTS:VBIX) could be one of the more interesting propositions for investors at this point in time and it could be a good idea to take a look into it.
Market Action
On Monday, VBIX stock ended flat at $0.5700 with more than 2 shares traded, compared to volume of 154 shares. The stock moved within a range of $0.5700 – 0.5700 after opening trading at $0.5700.
Viewbix: Gix Media Increases Holdings in Cortex Media Group to 80% of its Share Capital
The company came into the news cycle yesterday after it announced that its fully owned subsidiary unit Gix Media Ltd had managed to pick up an additional 10% stake in the digital publishing firm Cortex Media Group Ltd. On a fully diluted basis, that took the ownership of Gix Media in Cortex Media to as much as 80% of the share capital.
The additional stock was acquired by Gix Media for cash consideration of $2.7 million, thereby giving Cortex Media a valuation of as much as $27 million. It was back in October of 2021 that Gix Media had initially picked up a 70% stake in Cortex Media and at the time the acquisition put a valuation of $16 million on Cortex Media.
The Chief Executive Officer of Viewbix AmihayHadad spoke about the latest development as well. Hadad noted that the company was pleased to have raised its interest in Cortex Media because it had proven to be a worthwhile investment thus far.
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