Titan acquires 10% Stake in CueZen for Wearable Tech
15th December 2023, Calif.: Leading lifestyle company Titan Company announced that its subsidiary, TCL North America, has entered into an agreement to acquire a 10 percent stake in CueZen, a Delaware Corporation. Through a Series Seed Stock Purchase Agreement, TCL North America will subscribe to Series Seed Preferred Stock in the Common Stock, resulting in a fully diluted ownership of 10 percent in CueZen. The transaction is valued at $3.5 million and is expected to be completed by December 31, 2023. This investment is a strategic move for TCL North America to explore the potential technologies offered by CueZen in its smart wearable business.
In November, Titan Company, owned by Tata, reported a 9.7 percent YoY increase in net consolidated profit to Rs 916 crore during the September q...