SINGAPORE (Feb 11): Vividthree Holdings, plans to pay $1.5 million for the intellectual property rights of a comic title, Silent Horror.
Under terms of the deal, the two sellers, Goh Chun Hoong and Goh Chun Keong, will receive in total cash of $0.5 million, and the remaining $1 million in the form of new Vividthree shares.
‘Silent Horror’ is a webcomic series with a supernatural horror theme and has amassed over 92 million views online since February 2015.
“The proposed transaction is in line with Vividthree’s intention to extend its IP ownership in the comic video mass market,” said the company on Feb 11.
“The move is expected to complement its content production business as well as add to the library of future immersive experience shows that the Group can offer to the mass market,” Vividthree added.
The Gohs are no strangers to Vividthree. Last December, their company, Darkbox Studios and Vividthree, collaborated to launch the revolutionary Over-The-Top comic video platform – ComicVid.
Charles Yeo, managing director of Vividthree, calls this acquisition a “potential game-changer”.
“By tapping on our post-production and content production capabilities, we want to bring ‘Silent Horror’ to an even wider audience via our OTT comic video platform. Moving forth, we will continue to strengthen our competitive edge to meet the increasing consumer demand in the region,” he added.
Vividthree closed Feb 11 at 10.1 cents, down 0.1 cent. At this level, Vividthree is trading at 10.46 times historical earnings, and valued at $33.7 million.
