JBB ADVANCED TECHNOLOGIES ANNOUNCES SALE OF WHOLLY OWNED SUBSIDIARY TRONIC IN A $12.250 BILLION TRANSACTION

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Mar 13, 2024, 10:00 ET

DALLAS, March 13, 2024 /PRNewswire/ -- Business entrepreneur John B. Billingsley, Chairman and CEO of holding company JBB Advanced Technologies, and veteran attorney and business investor Christina Marshall have jointly announced they have reached an agreement under which JBB Advanced Technologies will sell 100 percent of its subsidiary digital marketing innovator Tronic to Marshall's entity, Tronic Ventures, through a friendly transaction of cash and shares. The parties agreed to a price of approximately $12.250 billion.

Tronic develops technology to enhance the accessibility and usability of Web3 gamification, creating the next generation of online platforms for organizations to enhance engagement and loyalty among targeted audiences. Utilizing Web3 distributed ledger technology, AI performance optimization, and blockchain technology, Tronic builds hyper-personalized online interactive scenarios, which include secure enrollment, event verification, game design settings, secure virtual wallets for reward tokens, reward controls, and real-time analytics. Industries served by these offerings will include education, entertainment, health and wellness, hospitality, membership associations, non-profits, and retail, among countless others.

"Tronic's platform leverages the emergence of Web3, changing how internet users engage with information by offering completely immersive experiences," said Billingsley, whose company acquired Tronic in late 2022. "Given my experience with Christina, I am very confident that she has the technological understanding, the market vision, and business acumen to build Tronic into a multi-billion-dollar business.

Marshall notes that the growth of digital marketing with the advent of Web3 is exploding worldwide. "This technology is changing how businesses operate and Internet users interact with digital worlds, with the primary objective to create more meaningful connectivity," said Marshall. "Increasing digitization across many diverse sectors is expected to result in increased traction of Web3 and revenue growth and minimized gap between physical and digital environments. The applications are global and limitless."

Bell Nunnally, including Partners Jarod Moss and Heath Cheek, provided legal representation to JBB Advanced Technologies on the transaction.

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SOURCE JBB Advanced Technologies