Winking Studios plans majority stake in Pixelline Production

The company has yet to provide updates on the acquisition of Pixelline.

Winking Studios shared its plans to acquire the majority stake in Malaysia-based Pixelline Production from Lee Jie Way and Beh Yit Xian.

The non-binding MOU is subject to satisfactory due diligence and the negotiation of definitive agreements.

Winking Studios said in a local bourse filing that it views the potential acquisition as aligned with its strategy to expand its market presence globally.

ALSO READ: Winking Studios plans to raise $8.0m in Catalist listing

Financing for the acquisition will be sourced from internal resources, as well as from proceeds from previous financings. The company expects the acquisition to contribute positively to its strategic goals without materially impacting its financial performance for the current fiscal year.

The directors and substantial shareholders have declared no direct or indirect interests in the MOU or the proposed acquisition beyond their roles within the company.

Shareholders and potential investors are cautioned there is no certainty regarding the completion of the proposed acquisition.

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