As part of the MOU, Winking Studios may choose to acquire all the fixed assets, moveable assets, intangible assets and the services of certain existing employees of Pixelline through its subsidiary.
The company says that the proposed acquisition is in line with its business strategy to pursue strategic acquisitions to expand its sales and capabilities and increase its market presence globally.
The consideration of the proposed acquisition will be determined and agreed upon between the Winking Studios and Pixelline’s owners on a willing buyer and willing seller basis.
The company will provide updates on the proposed acquisition when there have been material developments.
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Shares in Winking Studios closed 0.5 cents lower or 1.92% down at 25.5 cents on April 8.
