SW Innovative Holdings Inc. agreed to acquire military technology designer and maker Next Dynamics Corp. for an undisclosed amount.
The Texas-based local exchange carrier will buy Next Dynamics in exchange for 12 million of its common shares, following a 1-for-10,000 reverse stock split. The former will also change its name to Next Dynamics Inc. in line with the deal.
The U.S. Financial Industry Regulatory Authority will need to approve the proposed name change and the accompanying ticker symbol change, as well as the reverse stock split.
Buzz Technologies Inc. owns SW Innovative Holdings.