Medigus Ltd. (NASDAQ: MDGS), an Israel-based medical devices company has announced today that it has decided to increase its holding in leading Internet Company Gix. After increasing its stake in Gix, Medigus Ltd will hold approximately 33% in Gix and will become its largest stakeholder.
Gix Internet Ltd. is a leading company in MarTech Solutions with a market capitalization of $10 million as of October 14, 2020. Gix Internet has reported the $18.5 million in revenue in the second quarter of 2020. This company is best known for providing its technologies over the internet on leading platforms including Apple, Verizon media group, and Google.
Currently, this company is offering two major services. The first one is the distribution of free-of-charge desktop apps and browser add-ons to end-users. It also earns revenues from advertisements and Gix Content, a solution platform for publishers, personalized content ads, and banners per users’ preferences, based on Gix’s proprietary AI technologies.
Medigus Ltd. (NASDAQ: MDGS) shares traded up 2.08% as it gained +0.06 during the trading session of Wednesday. It has a closing price of $2.95. In the past 52-weeks of trading, this company has recorded the 52-weeks low range of $0.83 and a high range of $5.15. Medigus has moved up 255.42% from its 52-weeks low and moved down -42.72% from its 52-weeks high. It had a trading volume of 3.19 million as compared to the average volume of 4.34 million. This company market capitalization has remained high, hitting $22.13 million at the time of writing.
Medigus will use its right to convert its Linkury shares into ordinary shares of Gix Internet following the Securities Purchase Agreement between Medigus Ltd, Gix Internet Ltd, f/ k/a Algomizer Limited, and Linkury Ltd, on June 19, 2019. Medigus currently has the ownership of 793,448 Linkury Shares. As per the agreement, all of 793,448 Linkury Shares will be converted to 9,858,698 Ordinary Shares of Gix Internet.