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Multimetaverse Announces Letter Of Intent To Acquire Majority Equity Stake In Taomee

Jan 12, 2023•over 2 years ago

Acquiring Company

MultiMetaVerse Holdings Limited

Acquired Company

Majority Equity Stake

Animation

Description

MultiMetaVerse Holdings Limited ("MMV" or the "Company"), an animation and entertainment company for young consumers in China, today announced that it has entered into a non-binding letter of intent (the "Letter of Intent") with Orient TM Ruibo Limited (the "TM Ruibo"). In accordance with the Letter of Intent, the Company and/or its affiliates intends to acquire a 72.81% equity stake in Orient TM Parent Limited ("Orient TM," collectively with the entities directly or indirectly controlled by Orient TM, "Taomee"). Taomee is a leading family interactive entertainment group in China, held directly or indirectly by TM Ruibo and/or its affiliates (the "Seller") (the "Proposed Transaction").

Company Information

Company

MultiMetaVerse Holdings Limited

About

MultiMetaVerse Holdings Limited (NASDAQ: MMV) is an animation and entertainment company dedicated to providing a high-quality, immersive entertainment experience through original, user-generated, and professional user-generated content. MMV commenced animation production in 2015 under its signature Aotu World brand, which has attracted a broad following with its inspiring storyline and unique graphic style, particularly among younger audiences in China. By leveraging the company's established user base, MMV has built a diverse product portfolio, including animated content, comic books, short videos, collectibles, stationery, consumer products, and mobile games across the Aotu World brand. It has also developed and augmented new brands, stories, and characters, such as Neko Album. For more information, please visit https://www.multi-metaverse.com/.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed