Miivo AI (TSX-V:MIVO) has completed its acquisition of First Five Partners Sàrl, a Switzerland-based sports advisory, commercial strategy and digital transformation business, giving the artificial intelligence company a foothold in Europe.
Miivo bought 100% of First Five's shares from founder Nicholas Hyett, an arm's length party, for CHF 288,000 (about C$490,420).
The deal closed on October 2, 2026, after all closing conditions were satisfied or waived.
Half of the purchase price, CHF 144,000, was paid in cash at closing. The remaining CHF 144,000 was settled through a non-interest bearing, non-convertible loan note that matures six months after closing.
First Five is now a wholly-owned subsidiary of Miivo. Hyett has been appointed Chief Strategy Officer of Miivo, effective upon closing.
"We believe the combination of First Five's strategic advisory capabilities and relationships across the international sports ecosystem with Miivo's AI, automation, business intelligence and implementation capabilities creates a compelling opportunity to further commercialize and deploy Miivo's existing technology platform," said Alexander Damouni, Miivo's CEO.
"Importantly, we view First Five as an attractive commercial deployment environment for our existing technology solutions and expect the transaction to help accelerate product development, validate commercial use cases and support future commercialization efforts."
Hyett, who founded First Five, said the deal combines the firm's sports-sector expertise and relationships with Miivo's AI and technology capabilities while preserving the entrepreneurial culture that has driven its success.
"We look forward to continuing to support our clients while bringing innovative solutions to the global sports market," Hyett said.
