{"id":"0ee5ffc6-a603-4c88-8556-def05e9031d4","slug":"reliance-global-group-loi-to-acquire-gpu-cloud-provider","acquirerCompanyId":"7840697c-94f9-43fa-b156-b4541a3d4283","acquiredCompanyId":null,"acquirerName":"Reliance Global Group","acquiredName":"Unnamed GPU cloud provider and marketplace operator","announcementDate":"2026-10-22T12:00:00.000Z","closeDate":null,"status":"announced","structure":"asset_purchase","valuationUsd":"3750000","valuationBasis":"contingent","summary":"On Sep 23 2026 Reliance Global Group signed a non-binding letter of intent to buy the assets of an unnamed GPU cloud provider and marketplace operator, announced Oct 22. Terms: $3.375M at closing ($3.0M cash plus $375K into escrow) and $375K after 12 months, both escrow and deferred payments tied to milestones, plus $250K of founder consulting fees. Closing is expected in early November 2026, subject to definitive agreements.","sources":[{"url":"https://relianceglobalgroup.com/2026/10/22/reliance-global-group-signs-loi-to-acquire-a-gpu-cloud-provider-targeting-rapid-growth-in-ai-infrastructure/","title":"Reliance Global Group Signs LOI to Acquire a GPU Cloud Provider, Targeting Rapid Growth in AI Infrastructure","sourceName":"Reliance Global Group","publishedAt":"2026-10-22"},{"url":"https://www.globenewswire.com/news-release/2026/10/22/3386743/0/en/reliance-global-group-signs-loi-to-acquire-a-gpu-cloud-provider-targeting-rapid-growth-in-ai-infrastructure.html","title":"Reliance Global Group Signs LOI to Acquire a GPU Cloud Provider","sourceName":"GlobeNewswire (Reliance Global Group)","publishedAt":"2026-10-22"},{"url":"https://www.datacenterdynamics.com/en/news/insurtech-company-reliance-global-group-to-acquire-gpu-cloud-company-and-pivot-strategy/","title":"InsurTech company Reliance Global Group to acquire GPU cloud company and pivot strategy","sourceName":"DCD","publishedAt":"2026-10-23"}],"verificationPosture":"reported","reviewStatus":"unreviewed","createdAt":"2026-10-27T15:58:42.376Z","updatedAt":"2026-10-27T15:58:42.376Z","acquirerCompany":{"id":"7840697c-94f9-43fa-b156-b4541a3d4283","slug":"reliance-global-group","name":"Reliance Global Group"},"acquiredCompany":null,"assets":[]}