Allied Gaming & Entertainment Reveals Strategic Investment In Mobile Games Developer Zhihe; Buys 40% Equity Interests For $7M Cash
Portfolio Pulse from Benzinga Newsdesk
Allied Gaming & Entertainment (AGAE) has announced a strategic investment in mobile games developer Zhihe, acquiring 40% equity interests for $7M in cash. The deal will make AGAE the largest shareholder and give it a controlling interest in the board. The equity interests were indirectly held by Ourgame International Holdings Limited, a major stockholder of AGAE.
August 16, 2023 | 8:09 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
AGAE's strategic investment in Zhihe could potentially boost its position in the mobile gaming market. The acquisition of 40% equity interests makes AGAE the largest shareholder in Zhihe.
The acquisition of a significant stake in Zhihe could potentially enhance AGAE's portfolio and strengthen its position in the mobile gaming market. As the largest shareholder, AGAE will have a significant influence on Zhihe's strategic decisions, which could lead to synergies and growth opportunities for AGAE.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100