“The CPS acquisition is an ideal complement to our flywheel business model and presents a significant opportunity to leverage our audience, platform and artist and entertainment industry relationships to add commerce and specialized consumer product revenues,” said Robert Ellin, CEO and Chairman of LiveXLive. Marketing Technology News: Goodway Group Named To AdExchanger’s Inaugural Programmatic Power Players List The deal further diversifies LiveXLive’s business model into the global licensed merch market, which is expected to reach $400 billion by 2023. The acquisition is expected to be immediately accretive to shareholder’s equity and additive to earnings and includes approximately $5.2 million of estimated working capital.
The transaction is valued at approximately $12 million based on the closing market price of LiveXLive’s stock on December 22, 2020, subject to working capital and other adjustments.ĬPS will operate as a wholly owned subsidiary of LiveXLive. LiveXLive Media, a global platform for livestream and on-demand audio, video and podcast content in music, comedy and pop culture, and owner of PodcastOne, Slacker Radio and React Presents, announced that it has completed the acquisition of Custom Personalization Solutions, LLC (“CPS”) in an all-stock deal.
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