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SPYR signs LOI to acquire highly accretive online game

Published 07/10/2018, 03:28 PM
© Reuters.  SPYR signs LOI to acquire highly accretive online game
SPYR
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  • SPYR (OTCPK:SPYR +10%) has signed an asset purchase Letter of Intent (LOI) to acquire a popular massively multiplayer online role-playing game or MMORPG.
  • The target company currently generates more than $9M in annual revenue (unaudited information).
  • Upon closing of the transaction, SPYR will acquire all of the game assets, including the game’s experienced development team.
  • Mike Turner, SPYR’s VP of Strategic Partnerships states, “This highly accretive acquisition will result in SPYR generating meaningful pro forma revenue and cash flow".
  • Press Release
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