16 Feb YuuZoo Acquires Infocomm Asia Holdings Ltd (IAHGAMES) In All Share Deal. YuuZoo Shares Issued At S$1, Values Enlarged YuuZoo Group At S$680M
Acquisition accelerates YuuZoo’s foray in to the high growth games market.
Gives YuuZoo ownership of 35 million additional registered users in 7 SEA markets, and strategic partnerships with leading media groups in Vietnam and Thailand
Leading SEA games company to operate as a subsidiary of YuuZoo and retain its brand
Singapore, 16th February, 2015: YuuZoo is pleased to announce that it has acquired 100% of Infocomm Asia Holdings Ltd., (“IAH”), a games and game distribution company with over 35M registered users and annual revenues of over 25M USD. The acquisition, which is subject to SGX approval, was done through the issuance of 50M YuuZoo shares at a value of SGD 1.00 per share. The effective consideration paid by YuuZoo for IAH is USD 14,4M (SGD 18M), given the last traded by price of YuuZoo shares on the SGX-ST of SGD 0.36c. At S$1 per share, the enlarged YuuZoo Group is valued at S$680M.
IAH, over the last eight years, has built a leading regional games business, with:
- More than 35 million registered users across 7 SEA markets;
- Revenues in excess of USD 25M per year for its last two fiscal years;
- Publishing partners including Vietnamese government-owned VTC Online and Thailand’s True Digital, a subsidiary of the communications conglomerate True Corporation; and
- Regional rights to distribute and/or publish popular game titles, including the world’s best-selling game Grand Theft Auto, Counterstrike Online and NBA 2K14.
Games, including social games, are an increasingly important part of the social e-commerce marketplace. The acquisition of IAH, together with the ability to cross-market to IAH’s 35M registered users, is an extremely powerful combination, and provides further channels for Yuuzoo Group to continue its impressive growth trajectory.
Says YuuZoo Chairman & CEO Thomas Zilliacus: “The acquisition of IAH will add value to YuuZoo in many ways. Games are a key revenue generator in social networking worldwide. Games provide major stickiness to social media. IAH’s partners in Vietnam and Thailand, VTC and True Corporation, are the kind of leading TV and media companies YuuZoo wants to partner with. The founder and CEO of IAH, Roland Ong, before launching IAH built a very successful game franchise in China. His contacts and network in China hold significant value in a market where YuuZoo is in discussions with multiple clients and recently has signed a key partnership with China’s second largest TV network”.
Says the Founder and CEO of IAH, Roland Ong: “I am very excited to see this deal happening. IAH believes YuuZoo will grow significantly in value over the near future. We believe strongly in the multiplier effect of combining Yuuzoo’s unique social e-commerce strategy with our gamer’s network, which is why we have accepted to receive full payment in YuuZoo shares at a significant premium to the current stock price. We believe the huge base of gamers IAH has built will be keen to join the targeted social e-commerce networks YuuZoo offers to consumers.”
Headquartered in Singapore, IAHGames is a leading publisher, operator and distributor of interactive entertainment. The company operates award-winning titles including Granado Espada, Counter-Strike™ Online, SuperStar Live, FairyLand 2,, New PAL Online, New Gulong Online, Blacklight Retribution, XAOC Online, Bella Online, Warframe, Spirit Horizon, War of Fate, NBA 2K14 and Grand Theft Auto V. One of the first online game companies in the world to receive ISO 9001:2000 certification for “Distribution and Operation of Online Games”, IAHGames executes a unique “One Market, One Asia” strategy that offers developers and publishers a one-stop distribution service for multiple countries. For more information on IAHGames, please visit: www.iahgames.com.
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access to over 85 million registered users and 700 million TV viewers across 164 countries, YuuZoo in a unique way combines social networking, e-commerce and games in a mobile-optimized, fully localized virtual shopping mall, where the consumer can access hundreds of targeted social networks, targeted shops and targeted entertainment through one single login. All networks are localized for each market as comes to language as well as merchandise and design. To see the networks, log into: www.yuuzoo.com and www.yuuzoo.cn. For more information about the company, please log on to: www.yuucorp.com.
Macquarie Capital (Singapore) Pte. Limited (“Macquarie”) was the financial adviser to W Corporation Limited (now known as YuuZoo Corporation Limited) in relation to the acquisition of the entire issued and paid-up share capital of YuuZoo Corporation and its subsidiaries.