M&A - HeartCore Enterprises, Inc.

Form Type: 10-K

Filing Date: 2025-03-31

Corporate Action: Acquisition

Type: New

Accession Number: 000121390025025791

Filing Summary: HeartCore Enterprises, Inc. is a software development company headquartered in Tokyo, Japan, providing products through two primary business units: a Customer Experience Management (CXM) division, focusing on integrated marketing, sales, service, and content management tools; and a Digital Transformation (DX) division, which incorporates robotic process automation and task mining. The company is transitioning towards helping Japanese businesses list on Nasdaq and NYSE under its GO IPO business, having secured consulting agreements with 14 companies. Significant revenue is generated through these agreements, alongside a partnership that resulted in the acquisition of 51% of Sigmaways, a U.S.-based software company. The filing reports that as of December 31, 2024, HeartCore has 982 customers in Japan, with a significant portion being paying customers. The document outlines strategic efforts in expanding their market presence despite facing declines in the CX and DX divisions. It indicates an overall positive financial outlook, linking to expanded market opportunities in intelligent process automation (IPA).