Intelligent Protection Management Corp. (NASDAQ: IPM) shares are experiencing a significant surge in pre-market trading, with its stock climbing 16.75% to $2.37 as of the last check. The rise comes on IPM’s first day of trading under its new name, following the completion of a pivotal merger transaction last week.
Paltalk Finalizes Strategic Acquisition and Divestiture
Paltalk, Inc., a leader in communications software, announced the successful acquisition of Newtek Technology Solutions, Inc. (NTS) from NewtekOne, Inc. Simultaneously, Paltalk completed the divestiture of its consumer-facing applications, including “Paltalk,” “Camfrog,” and “Vumber,” which were sold to Meteor Mobile Holdings, Inc. These strategic moves were approved by shareholders during a special meeting held on December 30, 2024.
New Strategic Focus for IPM
With its transformation into Intelligent Protection Management Corp., the company is shifting its core business towards server hosting, cloud hosting, data storage, managed security, and disaster recovery solutions. Additionally, IPM will deploy cutting-edge technological solutions and provide consultancy services.
Intelligent Protection Management Corp. began trading on the Nasdaq Capital Market under the ticker symbol “IPM” today. After the divestment, the company has redirected its efforts to corporate technology services and left the video-based streaming and telecom software markets.
Revenue Boost and Growth Prospects
The acquisition of NTS is expected to immediately and substantially boost IPM’s revenue. NTS’s 2023 revenue was approximately three times greater than that of Paltalk. This strategic shift enables the company to enter the rapidly growing cloud infrastructure and cybersecurity sectors while serving an expanded customer base, including NewtekOne.
The leadership of IPM has voiced hope for the company’s future while highlighting its emphasis on utilizing NTS’s skills and cross-selling potential. By positioning the business for long-term growth, the combination enables it to maximize value for shareholders and provide consumers with improved services.
Poised for Long-Term Success
With a renewed focus and expanded market reach, Intelligent Protection Management is well-positioned to drive innovation and achieve scalable success. By optimizing its strategy and aligning with industry demands, the company aims to establish itself as a key player in the technology solutions sector.
