TROOPS announced its subsidiary, Giant Connection Limited, plans to acquire 49% of WORK, Inc., a co-working space operator in Taiwan, with an option to buy the remaining 51% later.
The deal consideration will be paid via convertible notes linked to TROOPS shares. As part of the deal, TROOPS is committed to developing a 7,000 square foot co-working space in Hong Kong and a dedicated mobile application. This move signals TROOPS’ expansion into Asia’s flexible workspace sector, leveraging WORK, Inc.’s existing presence in Taiwan and planned growth in Hong Kong. The deal is subject to due diligence and regulatory approvals, including NASDAQ and SEC.
Based in Hong Kong, TROOPS is a conglomerate with diverse business interests including:
— Money lending in Hong Kong.
— Property investment.
— Developing and managing an online financial marketplace with fintech solutions.
— Advisory and referral services for migration, education, and visa renewal.
— Consultancy services for insurance product referrals.
