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.
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