09:57 AM EDT, 05/29/2024 (MT Newswires) -- Neo-Concept International Group Holdings ( NCI ) said Wednesday it agreed to acquire the intellectual property and research and development capabilities of its affiliated company, Neo-Concept Holdings.

The Hong Kong-based company said it will acquire all rights and goodwill associated with certain intellectual properties for about $2.0 million, with certain R&D employees of Neo-Concept Holdings transferring to the company upon the completion of the deal.

The company said it will take full ownership of the "Les100Ciels" and "SIU" brands under the deal, including all associated trademarks and trade names.

The completion of the asset transfer is expected to be completed within six months, the company said.

Price: 0.81, Change: +0.04, Percent Change: +4.94