GARLAND, Texas, Feb. 3, 2026 /PRNewswire/ — Massimo Group (NASDAQ: MAMO), a prominent U.S. manufacturer and distributor of powersports vehicles and electric mobility solutions, has announced its intent to acquire 100% of the equity interests in FST Development Company Limited, a technology firm specializing in intelligent hardware and AI-driven system-level solutions. This non-binding Letter of Intent (LOI) marks a significant strategic move for Massimo, aligning the company with emerging trends in AI-enabled outdoor mobility and advanced digital health robotics.
The terms of the LOI indicate that FST is valued at a pre-money equity valuation ranging from approximately US$38 million to US$50 million. Massimo intends to acquire FST for a total consideration between US$27 million and US$35 million. The transaction may involve cash payments, the issuance of Massimo common stock, or a combination of both, all subject to a six-month lock-up period post-closing. Release of shares will depend on achieving specified performance milestones and successful integration, as determined by Massimo’s Chief Executive Officer, David Shan.
This acquisition comes as demographic shifts, sustainability concerns, and rapid technological advancements reshape traditional industries. Massimo aims to capitalize on the growing demand for intelligent, connected systems in outdoor mobility and health solutions, particularly in light of aging populations globally. By fully integrating FST’s advanced AI capabilities—including intelligent control platforms and health-technology modules—Massimo expects to cultivate a unified ecosystem that spans mobility and health.
Post-acquisition, the combined organization is anticipated to embed FST’s AI-driven platforms into Massimo’s product lines, including utility terrain vehicles (UTVs), all-terrain vehicles (ATVs), and marine products. The integration is expected to streamline product development cycles, lower research and development costs, and accelerate time-to-market for innovative offerings. Furthermore, it positions Massimo to penetrate the high-growth AI health robotics sector, an area where FST already excels with medical-grade hardware and predictive health algorithms.
“This transaction represents more than an acquisition—it is a strategic transformation,” said Shan. “By bringing FST fully into the Massimo organization, we are combining our legacy of rugged, reliable vehicles with advanced AI-driven systems and software intelligence. Our objective is to make outdoor experiences safer, health monitoring more proactive, and advanced technology more accessible.”
FST’s CEO expressed optimism about the merger, stating, “Becoming part of Massimo will provide us with a powerful platform to scale our technology from individual modules to fully integrated ecosystems. With Massimo’s operational strength and global reach, our innovations can be deployed faster and at significantly greater scale.”
The LOI allows for a 60-day exclusivity period during which both parties will conduct confirmatory due diligence and negotiate definitive transaction documents. Massimo and FST aim to finalize agreements by late March 2026, pending board approvals, regulatory clearance, and satisfactory due diligence.
It is important to note that the LOI is non-binding and does not commit either party to finalize the acquisition. There are no guarantees that definitive agreements will be reached or that the acquisition will ultimately proceed.
FST Development Company Limited specializes in intelligent hardware and system-level solutions, providing integrated hardware-software modules and ODM/OEM services mainly for outdoor power equipment and AI health robotics applications. Meanwhile, Massimo Group continues to establish itself as a leader in the powersports and electric mobility sectors, serving customers through a wide dealer network. The potential of this acquisition illustrates Massimo’s commitment to innovation and adaptability in an evolving technological landscape.
This strategic move not only expands Massimo’s capabilities but also reflects broader trends in the integration of AI technologies across industries, particularly as companies strive to meet the demands of a changing market. As the landscape of outdoor mobility and health technology evolves, the successful integration of FST may enhance Massimo’s competitive edge and long-term viability in these burgeoning sectors.
For more information on Massimo Group, visit Massimo Group. For insights into FST Development Company Limited, please refer to their website at FST Development.
See also
Alibaba Allocates $432M for Qwen AI Blitz, Launches Zhenwu 810E Chip Amid Market Rivalry
DeepSeek R1 Matches ChatGPT Performance at 96% Lower Cost, Targets Developers
Germany”s National Team Prepares for World Cup Qualifiers with Disco Atmosphere
95% of AI Projects Fail in Companies According to MIT
AI in Food & Beverages Market to Surge from $11.08B to $263.80B by 2032
