Southeast Asia based mobile entertainment group iCandy Interactive Limited has entered into a termsheet to acquire the entire 100 per cent interest in Singapore-based Inzen Studio Ptd Ltd for S$6 million ($4.4 million).
However, the company said in the statement that the final value will be satisfied in ordinary shares of iCandy at an issuance price of five-day volume weighted average price of iCandy’s shares at closing of the transaction.
