Mavshack has finalized the previously announced agreement to acquire 51 percent of Ambient Media, a subsidiary to the Global Link Group. The agreement was signed yesterday, July 29, in Stockholm, Sweden.
The acquisition gives Mavshack the ability to strengthen its portfolio with new and relevant Filipino content, movies and TV-series. Besides its own production, voiceover and subtitling capabilities, Ambient Media also has valuable knowledge about content and strong connections with the Filipino entertainment industry.
"With this agreement Mavshack gains closer relations to Filipino content providers and obtains in-house production capabilities. Under the terms of the agreement Global Link obtains an approximate 25 percent ownership of the company, making Mavshack a de facto Swedish/Filipino company. This strengthens our ties to the Filipino market, both on a cultural level and from a strategic business point," says Anders Lindén, CEO of Mavshack.
President of Ambient Media, Rains David says "Ambient Media is excited about this new relationship and we look forward to bringing more Filipino content and talent through the Mavshack platform which truly has a world wide reach."
30 July, 2015
For more information, please contact:
CEO Anders Lindén
tel: 08-12451790
About Mavshack AB
Mavshack runs one of the world's fastest growing Internet TV services, providing Asian entertainment to audiences worldwide. The service is accessible via internet-connected device and currently have users in more than 80 countries. Through agreements with Asia's leading content providers, and currently offering the largest media library of Filipino and Indian titles, Mavshack is the obvious place for Asian entertainment in local languages.
Mavshack is a Swedish company listed on NASDAQ First North under the ticker MAV. Certified Adviser is Erik Penser Bankaktiebolag. More information about the company is available at www.mavshack.se.
Prenumerera på nyheter och rapporter
E-post: ir@mavshack.com
Telefon: 08-124 517 90
Mavshack gruppen
Mavshack AB (publ) är noterat på Nasdaq First North Growth Market och handlas som MAV.
Carnegie Investment Bank AB är
Certified Adviser
Mavshack AB
Karlavägen 58
SE-114 49 Stockholm
Sverige
Telefon +46-8-124 517 90
Copyright 2022 @ Mavshack AB. All rights reserved.
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