SINGAPORE (June 30): Vividthree Holdings, the visual effects and computer-generated imagery (CGI) company, has acquired comics content creator, DarkBox Studio on Tuesday.
The purchase price for the acquisition is $894,632.95, which will be fully paid in cash.
The price at first consideration stood at $1.5 million, of which, $0.5 million was to be paid in cash, and the remaining million, in Vividthree shares.
The consideration was arrived at on a willing-buyer, willing-seller basis, keeping in mind factors including the popularity of the Silent Horror comic, and the potential of the comic video business.
Under the agreement, the acquisition will include all intellectual property (IP) rights and all published and unpublished works for the “Silent Horror” owned by the studio and the studio’s co-founders, Goh Chun Hoong and Goh Chun Keong.
Vividthree Holdings first announced it was in talks to acquire DarkBox Studio in December 2019.
See: Vividthree in talks to acquire comics content creator DarkBox Studio
In a separate announcement, Vividthree says it will not be proceeding with the proposed placement of up to 15,880,000 new ordinary shares, priced at a minimum of 12.6 cents per share.
The proposed placement was announced via an SGX filing in February this year.
See also: Vividthree aims to raise $2 million from placement
In a Tuesday statement, Vividthree says it will not be proceeding with the proposed placement, as it has "sufficient" working capital to meet its present and projected requirements.
Shares in Vividthree Holdings closed flat at 8 cents on Tuesday.
