15 February 2021.
RBV is excited to announce the offer to acquire IDPL. IDPL has intellectual property ownership of 26 mobile game titles developed on the iOS and Android platforms. In addition, IDPL holds 23% stake in Esports Pte Ltd (“Esport Player League – “ESPL” www.espl.gg).
The investment is consistent with last week’s announcement of RBV being one of ESPL strategic partners and lead investors.
Transaction Structure and Rationale
RBV has entered into a conditional Share Sale Agreement with iCandy to acquire 100% of its fully-owned Singaporean subsidiary IDPL for a consideration of SEK 31,132,800 to be satisfied by the new issuance of 17,296,000 ordinary shares of RBV at an issue price of SEK1.8 (A$0.28) (the “Transaction”). Thus, iCandy will become one of RBV’s strategic shareholders. As such, iCandy will be able to:
- retain the benefits of the growth journey of ESPL;
- participate in RBV’s portfolio of companies own growth journey; and
- gets access to the Nordic esports and gaming ecosystem.
“As an esports focused investment company, Rightbridge is better positioned than iCandy to groom ESPL by providing ESPL with more in-depth exposure to a wider portfolio of esports companies via Rightbridge’s Nordic network.”- says iCandy in their ASX and Media Announcement.
The acquisition of IDPL by RBV is conditional upon the approval of the transaction by RBV and iCandy shareholders, the Australian Securities and Investment Commission, as well as Australian Securities Exchange.
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About RightBridge Ventures
RightBridge Ventures is an investment company based in Stockholm (Sweden) dedicated to investing in companies that shape the future of esports and gaming as part of the digital entertainment industry. The intention of RBV board of directors is to present a motion for public listing of RightBridge during 2021. For more information visit www.rightbridge.se or get updates by following RightBridge Ventures on Instagram and LinkedIn. Contact: jointhejourney@rightbridge.se
About Esports Player League (ESPL)
The Esports Players League (ESPL) is a global esports organization that is developing an amateur competition network via its online esports tournament platform. ESPL is launching a global footprint across 16 countries in its initial phase, covering Asia, Europe, and the Americas. ESPL’s central focus is on mobile esports, with PC and console-based video games also featured on its diverse network of quality esports content. ESPL is managed by its headquarters in Singapore and regional offices in Cologne and Los Angeles.
For more info about ESPL, visit espl.co or email info@espl.co.
About iCandy Interactive
iCandy Interactive Limited (ASX: ICI) is an Australian publicly traded company that has its core business in the development and publishing of mobile games and digital entertainment for a global audience. iCandy Interactive runs a portfolio of mobile games that have been played by over 350 million mobile gamers worldwide and has won multiple awards in various coveted international events.For more information visit www.icandy.io
