Arctic7 Set To Be Acquired By Media, Technology & Entertainment Company Grom Social Enterprises, Inc
AUSTIN, Texas, March 14, 2024 (GLOBE NEWSWIRE) -- Arctic7, which provides a robust suite of full game and co-development services together with own intellectual property development within gaming, and virtual production services for the movie and TV industry, has today announced it has agreed to be acquired by Grom Social Enterprises, Inc (NASDAQ: GROM).
- Grom – a media, technology, and entertainment company focused on family-friendly programming, web filtering technology and safe social media for kids – has entered into a non-binding letter of intent to acquire Arctic7.
- Grom aims to complement its existing entertainment offerings of safe, social media for kids and its growing catalog of original intellectual property with a move into gaming.
- Teaming up with Grom allows us to more vigorously pursue a roll up strategy approach to potentially expand our business even further.
- In the coming weeks and months, Grom and Arctic7 intend to explore partnership opportunities and titles presented by the Grom acquisition.