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ReSolve Completes Successful Sale of Fetch.AI
ReSolve announces the sale of the business and assets of Fetch.AI Limited (“Fetch.AI” or “the Company”), an open network for AI agents, to Assmbl.ai Limited.
Fetch.AI was founded in 2018 and was the administrative arm holding numerous patents and trademarks of a blockchain platform that aimed to decentralise and automate transactions on the internet using artificial intelligence and distributed ledger technology. Its platform allows for the automation of everyday tasks across a wide array of sectors, including technology, finance, logistics and travel.
The Company ran into financial difficulties towards the end of 2023 and engaged ReSolve to conduct an accelerated marketing process to find urgent rescue capital or to secure a sale of the shares, or business and/or assets.
The best offer was put forward by Assembl.ai, a connected party, with the sale completing out of administration on 23 January 2024.
After a wide marketing campaign, we are pleased to have achieved a sale of the business and assets of Fetch.AI, which is in the best interests of the creditors. With the rapid developments currently taking place in the world of artificial intelligence, there is great scope for the business to thrive over the coming years.
Disclaimer: The Fetch.ai cryptocurrency tokens are utility tokens and are not owned by the Company or its subsidiary in Singapore. This process has not and will not affect the trading of the Fetch.ai cryptocurrency token.
This article was originally published on ReSolve Advisory Limited. On 28 October 2024, ReSolve Advisory Limited joined S&W Partners LLP (formerly Evelyn Partners LLP). While considerable care was taken to ensure the information contained within this article was accurate and up to date at the time of publication, no warranty is given as to the accuracy or completeness of the information. No liability is accepted for any errors or omissions in such information or any action taken on the basis of this information.