Grom Social Enterprises, Inc. And Arctic7 Launch Synergy Council To Explore Cross-Division Gaming Production Opportunities
Portfolio Pulse from Benzinga Newsdesk
Grom Social Enterprises, Inc. (NASDAQ:GROM) and Arctic7 are forming a synergy council to explore gaming production and ancillary revenue growth opportunities following GROM's LOI to acquire Arctic7. This collaboration aims to leverage Arctic7's expertise in game development with GROM's family-friendly entertainment offerings. Arctic7, having achieved significant growth and attended the successful GDC 2024 conference, anticipates reaching $14 million in revenue in FY24. The partnership seeks to expand GROM's properties into games and create original content.
April 04, 2024 | 1:33 pm
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Grom Social Enterprises, Inc. is forming a synergy council with Arctic7 to explore gaming production and revenue growth opportunities, leveraging Arctic7's game development expertise.
The formation of a synergy council with Arctic7, a company with a strong track record in game development, indicates a strategic move by GROM to diversify and strengthen its entertainment offerings. This collaboration is likely to enhance GROM's product portfolio and open up new revenue streams, positively impacting its stock price in the short term.
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