The news about any new acquisition can lead to considerable attention for the stock of a company, and hence, it could be a good move for investors to keep an eye on the Tiderock Companies Inc. (OTC:TDRK) stock this morning. The company came into the news cycle on Thursday after it announced the successful completion of the acquisition of MTAG Global Inc. In the news release, Tiderock Companies noted that the acquisition would lead to the formation of a major international materials company. In this regard, it should be noted that MTAG Global is the exclusive distributor of MTAG Composites and is known for having a strong pipeline that boasts revenues in excess of $25 million annually.
It was revealed that MTAG Global already held a strong position in the European market and provided a wide range of services to a variety of sectors. Some of the sectors it worked with include construction, aerospace, rail, marine, defense, and automotive. Hence, the company had attained a strategically important position that it could leverage to cash in on the growing composites market. The composites market commanded a valuation of $105.75 billion in 2022 and could hit a valuation of $191.36 billion by 2032, reflecting a CAGR of 6.1% from 2023 through 2032. MTAG projected revenues of $12.5 million in the 2024 fiscal year. It should be noted that the acquisition of MTAG by Tiderock Companies has been postponed indefinitely in the past.
The acquisition had been completed through a new arrangement that would allow Tiderock Companies to build important relationships with MTAG Composites while looking into other opportunities for growth. In order to complete the transaction, the company issued 800,000 Series C preferred shares in Tiderock Companies to the MTAG Global owners. MTAG Composites would also be paid a one-time $250000 fee so as to secure exclusive worldwide distribution rights.
 Stock In Focus After Latest News){kind=link}