FLORIDA: Sigma Additive Solutions, Inc. (NASDAQ:SASI), a 3D printing software company, has announced a definitive agreement to acquire NextTrip Holdings, Inc., a travel technology company, in exchange for shares of Sigma common stock. Sigma will also sell its quality assurance technology suite of assets to Divergent Technologies, Inc., a company that develops adaptive production systems and performance vehicles.
The acquisition of NextTrip will allow Sigma to enter the travel industry and leverage NextTrip’s proprietary technology, analytics, and partnerships to provide specialized travel solutions. NextTrip, which had over $400 million in bookings in 2019, plans to expand its product and travel consumer offerings, explore strategic M&A, and invest in innovative technologies to connect travel customers.
NextTrip CEO William Kerby will become the CEO of the combined company, which will change its name to NextTrip, Inc. and trade under a new symbol on Nasdaq. NextTrip will also have the right to appoint board members and officers upon reaching certain business milestones.
The transactions are expected to close in the fourth quarter of 2023, subject to regulatory and shareholder approvals and other customary closing conditions. Until then, Sigma and NextTrip will remain separate and independent companies.
Lake Street Capital Markets is acting as the financial advisor to Sigma.