MultiMetaVerse Holdings Limited (Nasdaq: MMV) Enters Into Agreement To Acquire Taomee

Provided By PR Newswire

Last update: Sep 15, 2023

NEW YORK and SHANGHAI, Sept. 15, 2023 /PRNewswire/ -- MultiMetaVerse Holdings Limited ("MMV"), an animation and entertainment company catering to China's youth market, announced today that it has, through its subsidiary in China, entered into an agreement (the "Agreement") to acquire 100% equity in Shanghai Shengran Information Technology Co., Ltd. and associated interests pertaining to all of its consolidated VIEs (collectively, the "Target Group," or "Taomee"). MMV expects to complete this transaction by the end of this year. The acquisition will be a major milestone for MMV in expanding its portfolio and will significantly enhance its financial performance including its revenue and cash flow.