iCandy to take over Singaporean mobile game developer Inzen Studio for $4.4m

iCandy to take over Singaporean mobile game developer Inzen Studio for $4.4m

Logo of Inzen Studio

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.

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