Hong Kong-based financial firm DL Holdings has acquired an artificial intelligence data analysis company to realize its tech-based multi-family office ambitions.
DL Holdings-owned DL Digital Family Office has entered into a memorandum of understanding with Chain of Demand – a Hong Kong-based AI data analysis and financial services company – according to a statement. The deal includes all of the latter firm's equity, technology, and intellectual property rights at a consideration not exceeding $10 million.
The purpose of the acquisition is to further develop an AI-based family office system called «DL-GPT» which was rolled out in mid-November.
«By consolidating the foundation of the traditional multi-family office business, DL Holdings has gained a first-mover advantage in the 'second curve' of corporate development, that is reshaping the underlying logic of the wealth management industry development in the second curve through trend analysis in the global distribution and redistribution of wealth,» said DL Holdings Group Andy Chen.
