iCandy Interactive acquiring Lemon Sky Studios for AUD$44.5M to make AAA games for the Metaverse

[ggx2ac]

First:

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 360 million mobile gamers worldwide and has won multiple awards in various coveted international events.

iCandy Interactive went through a funding round that was oversubscribed at AUD$40M, source: https://www.asx.com.au/asxpdf/20211119/pdf/4535h3p5st29m0.pdf

The money is being used for working capital and to fund the acquisition of Lemon Sky Studios.

Here's the investor presentation (slides) relevant to the acquisition: https://www.asx.com.au/asxpdf/20211119/pdf/4535k3fc50dj6d.pdf

I am posting some of the slides, from that presentation here.

Summary of Lemon Sky Studios:

iCandy talks about its next phase growth and the metaverse:

Their historical timeline:

Why you have probably never heard of iCandy until today is because 1) they make mobile games 2) they have a small market cap at less than AUD$100M as of the time of this post:

I am just posting this thread as news. I have no financial advice for this company.

 

[Diaochan]

wow they have involvement in a lot of AAA games

 

[SinCityAssassin]

I continue not to be a concept of this realm of metaverse.

 

[Garlic]

I would not advertise that I worked on Warcraft III Reforged lol

 

[Kelanflyter]

Yeah, i was about to say the same.

 

[EnergyDrink]

I would not advertise that I worked on Warcraft III Reforged lol

Yes. Momentarily companies even distance themselves from Activision/Blizzard.

Its strange that they proudly announce that they work with this company AND are involved in the disaster that Reforged is.