Mergers & Acquisitions
By The Online Investor Staff, updated Sun., Jan. 29, 5:36 PM
| This Slide: #67 of 100 |
Slide #67. QYOU Media Inc. — Maxamtech Digital Ventures
Acquirer:
QYOU Media Inc. (CVE:QYOU.CA)
Acquiree:
Maxamtech Digital Ventures
Details:
QYOU Media Inc. (TSXV: QYOU) (OTCQB: QYOUF) announced today that it has successfully completed its acquisition of a majority ownership stake in Maxamtech Digital Ventures, a six year old India based venture creating technology and games for the mobile gaming industry. QYOU Media has initially purchased a 51% stake of the issued and outstanding shares in the Maxamtech business giving it majority control over the enterprise.The purchase price has not been disclosed but the parties have agreed on terms for purchase of the remaining 49% based upon a multiple of EBITDA over the calendar years 2023, 2024 and 2025. The acquisition continues the recent push by QYOU Media and The Q India to leverage its large and growing audience reach to over 125 million young Indians weekly by ramping up its portfolio of direct-to-consumer products in 2023.
QYOU Media is engaged in the investigation of business investment opportunities.
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