Alternet Systems CEO finalizes terms to acquire Nairobi business

Nov. 15, 2021 10:46 AM ETAlternet Systems, Inc. (ALYI)By: Manshi Mamtora, CFA
  • Alternet Systems (OTCPK:ALYI -4.5%) to acquire a majority interest in a Nairobi business designed to accelerate the company’s electric vehicle revenue.
  • The acquisition agreement is expected to be finalized and executed with the next two weeks.
  • Company is on track to realize a $2M revenue target by year end 2021 anticipated from sales of its first electric motorcycles into the African motorcycle market.
  • The Nairobi acquisition is expected to accelerate and grow the revenue stream in 2021.
  • The second acquisition negotiations are taking place in London in conjunction with strategic meetings to advance company’s ongoing development of an EV race in Nairobi designed to brand ALYI’s EV ecosystem.
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