Concorde International shares up 61.11% after-hours after announcing $600M merger with YOOV Group to create AI-powered security ecosystem.

Concorde International Group Ltd (NASDAQ:CIGL) surged 61.11% in after-hours trading following the announcement of a $600 million merger agreement with Hong Kong-based YOOV Group Holding Limited. The transaction, disclosed in a SEC filing, will see YOOV become a wholly owned subsidiary of CIGL via a merger, with YOOV equity holders receiving 200 million newly issued Class A shares. The deal, requiring CIGL shareholder approval and Nasdaq authorization, aims to integrate YOOV’s AI-as-a-service solutions into CIGL’s security ecosystem. The merger, valued at $600 million on a fully diluted basis, was highlighted as a strategic move to accelerate digital transformation in security services, directly correlating with the sharp post-market rally.