YuuZoo acquires 30% stake in game distributor IAH for $2.4m

It issued 15m new shares to IAH shareholders.

Singapore-listed YuuZoo Corporation has acquired a 30% stake in of Infocomm Asia Holdings (IAH), a distributor of online and box games in the ASEAN.

The payment to IAH shareholders will be done by the issuance of 15 million new YuuZoo shares, which amounts to $2.4 million. 

The acquisition gives YuuZoo access to IAH’s 37 million registered gamers in 7 markets in SouthEast Asia, to whom YuuZoo can cross-market YuuZoo services and games.

The deal also includes IAHGames conducting all of its sales, which in both 2013 and 2014 exceeded SGD 30 million, through YuuZoo’s e-commerce platform.

In addition, IAHGames also agreed to repay its $6.5m loan to YuuZoo.