Grom Social Enterprises, Inc. Agrees to Acquire Majority Control of Kids and Family Content Creator Curiosity Ink Media LLC
BOCA RATON, FL, July 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Grom Social Enterprises, Inc. (NASDAQ: GROM) (“Grom” or the “Company”) today announced it has entered into a definitive purchase agreement to acquire 80% of the equity and control of Curiosity Ink Media LLC (“Curiosity” or “CIM”) – a producer and developer of original kids and family content – which is expected to complement the Company’s existing offerings of brand-safe social media for kids, animation production and web filtering solutions. Upon completion of the acquisition, Grom will retain one of the key architects of Curiosity’s early success, Brent Watts, in his current role as Chief Creative Officer, where he will continue to cultivate storytelling IP for Curiosity and provide visual design acumen for the studio. The announcement was made by Darren Marks, Grom’s Chairman and Chief Executive Officer. Closing of the purchase transaction is subject to certain regulatory and other customary closing conditions, and is expected to take place in mid-August 2021.
- The acquisition will bring Curiositys original IP catalog to the Companys portfolio of assets, with Watts helping to spearhead Curiositys migration into the Grom family.
- Since its inception in 2017, Curiosity has fostered multiplatform storytelling content in publishing, preschool entertainment, series development, feature film franchises and ancillary revenue opportunities.
- We believe bringing Curiosity Ink Media and Brent Watts into the Grom family furthers our mission to serve todays kids and families in new and exciting ways, explains Marks.
- Grom also includes Grom Educational Services, Inc., which has provided web filtering services for K-12 schools, government and private businesses.