Tuesday, November 3, 2015

DeClout plans to acquire 75% stake in Play-E for up to $18.9 million

Technology service provider DeClout and its 94.8% subsidiary, Corous360 (C360), have entered into a sale and purchase agreement with Jupiter-Soft and Sin Kim Guan from which C360 will acquire 75% or 150,750 shares in Play-E for up to $18.9 million.

Through Play-E’s retail alliance partnership, C360 aims to benefit from its multiple potential revenue streams. The latter has master distributorship rights to “leading products in the region” and by combining these rights with the retail alliance partnership, it hopes to control both the upstream and downstream of the vertical market.

DeClout shares closed 1.54% higher at 19.8 cents on Monday.

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