GoLogiq, Inc., a U.S.-based global provider of fintech and consumer data analytics, has entered into a non-binding letter of intent to acquire Sydney-based Applied Positive Psychology Learning Institute (APPLI).

APPLI is a global organization that helps people and organizations make positive and sustainable changes in mental health and well-being through a diverse range of products and services. These include online and blended learning courses, strategic consulting, research and development services, and bespoke well-being programs for many industries, including the financial sector.

APPLI’s major corporate clients include The Reserve Bank of Australia, The International Bank of Settlements, Price Waterhouse Coopers, and Nextgen Financial Group. APPLI is led by a world-recognized team of mental health and educational professionals, including its founder and CEO, Paula Robinson, Ph.D.

“Businesses around the world are increasingly recognizing the strong correlation between employee health and wellbeing and greater productivity, higher sales, and quality customer engagement,” noted Brent Suen, interim CEO of GoLogiq. “APPLI’s mission and values also reflects our own at GoLogiq of making sure our people receive the support they need to become the best version of themselves.”

“Moreover, APPLI is highly complementary with our existing business and other pending acquisitions that are focused on the financial sector and the New Digital Economy,” added Suen. “Mental wellness programs and testing have become mandatory for businesses in Australia and increasingly in other parts of the world. With APPLI integrated into our fintech ecosystem, we anticipate significant cross-selling and value-add across the board.”

Under the terms of letter of intent, GoLogiq will acquire 100% of APPLI in an all-stock transaction. GoLogiq would issue common shares to APPLI shareholders valued at US$6 million. The transaction is expected to close in the second quarter of 2023.

While GoLogiq expects the transaction to be completed as anticipated, a definitive agreement has yet to be signed and no assurances can be given it will be executed or the transaction will be completed as described.

When such a definitive agreement would be mutually signed, the details would be made available in a Form 8-K to be filed with U.S. Securities and Exchange Commission on www.sec.gov as well as on the investor section of GoLogiq’s website.