Commodore In $22.7-Million JV With The Content Factory

Commodore International Corporation (CIC), a Netherlands-based digital content company, and The Content Factory (TCF) have formed a joint venture, Commodore Gaming, to develop mobile games and entertainment products. The JV is for a period of five years with an option to extend it for another five years. The transaction value is $22.7 million, of which $15.1 million in cash payment (over a period of 5 years) and $7.6 million in shares. CIC will get 49 per cent stake in the JV, and at the conclusion of the transaction CIC received $8.8 million in cash and shares, as a first payment. “CIC and Commodore Gaming will actively identify and pursue relevant M&A targets which can contribute to Commodore Gaming’s ambition to become a major worldwide player in the mobile games and entertainment market,” said a statement.
Related:
Commodore To Take On Mobile Phone Game Market

Comments have been disabled for this post