Bifogade filer
EMB Mission Bound announces Letter of Intent to purchase strategic assets and business from the Confetti Group
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Sällanköp |
| Industri | Betting |
EMB Mission Bound AB (publ) (“EMB Mission Bound”) has today signed a letter of intent (“LOI”) to acquire strategic assets and business from Confetti Studio, a Taiwanese company, and Confetti Studios Inc, a Philippine company (together the “Confetti Group”). The Confetti Group specializes in custom web design, development, and game design concepts, bringing visually captivating and interactive experiences to life. The indicative purchase price is USD 375,000 (approx. SEK 4 million) which will be paid to the owners of the Confetti Group in the form of newly issued shares in EMB Mission Bound. The potential new issue will be resolved by the board of directors of EMB Mission Bound by authorization from the extraordinary general meeting held on 7 January 2025. Completion of the acquisition is conditional upon a satisfactory due diligence review. Closing is expected to take place during March 2025.
EMB Mission Bound and Confetti Group today signed a non-binding LoI, detailing the acquisition of the material assets, including slot games, systems UI/UX design templates, and client relationships, including accounts receivable, of Confetti Group. According to the LoI, a business transfer agreement will be entered into around the end of March 2025.
The indicative purchase price is USD 375,000 (approx. SEK 4 million) which will be paid in the form of newly issued shares in EMB Mission Bound, resolved by the board of directors by authorization from the extraordinary general meeting held on 7 January 2025. The subscription price for the new shares will be determined as the volume weighted average price of EMB Mission Bound’s shares on Nasdaq First North Growth Market for the 30 trading days preceding the signing of the business transfer agreement. The acquisition, its purchase price, assets to be included, and terms are subject to further negotiations and EMB Mission Bound’s due diligence of the Confetti Group. As the complete terms of the acquisition have not been finalized, further information will be presented in connection to the potential signing of the business transfer agreement.
Both EMB Mission Bound and Confetti Group share a vision focused on excellence, creativity, and strategic development. Confetti Group brings a proven track record in game development, while EMB Mission Bound offers deep-rooted expertise in strategic management. Together, these two entities align to create a stronger, more agile team capable of disrupting and leading the gaming industry.
A comment from EMB Mission Bound CEO, Michael Li:
“At the heart of this partnership is a shared commitment to operational efficiency. The integration of resources, from creative talent to technical infrastructure, will allow both companies to work more efficiently and bring higher-quality products to market. By pooling our creativity, management proficiency, and industry knowledge, EMB Mission Bound and Confetti Group will continue to push the boundaries of immersive gaming experiences.”
The synergy between EMB Mission Bound and Confetti Group is evident in the alignment of design perspectives, creative visions, and the drive for continual improvement. Both teams are led by credible and experienced leaders whose collective vision inspires collaboration across departments and empowers us to grow and evolve.
With this acquisition, EMB Mission Bound and Confetti Group are positioned to grow faster, produce higher-quality games, and deliver innovative ideas to market at a quicker pace. The collaboration will open new opportunities for creative contributions and professional growth, all while maintaining a steadfast focus on delivering exceptional gaming experiences to audiences worldwide.