UTime shares surge 13.38% premarket after announcing $80M deal to acquire Feixiaohao Web3 data platform.

UTime surged 13.38% in premarket trading following the announcement of a proposed $80 million acquisition of Feixiaohao Technology, a leading Web3 data platform. The nonbinding deal, structured as $64 million in shares/cash and $16 million in cash, would integrate Feixiaohao’s blockchain analytics tools and millions of crypto users into UTime’s hardware ecosystem. The company emphasized the strategic value of combining Feixiaohao’s data infrastructure with its hardware expertise to create new Web3 applications, positioning itself in the growing blockchain sector. The CEO highlighted the potential to bridge physical devices with digital assets, underscoring the transaction’s alignment with UTime’s expansion goals. While the deal remains subject to definitive agreements, the market reacted strongly to the anticipated entry into Web3 and the scale of the acquisition, which dwarfs UTime’s current market cap.