Artivision Technologies enters into reverse takeover to acquire MC Payment

Singapore

VIDEO solutions provider Artivision Technologies is entering into a reverse takeover deal to give up a 70 per cent stake in the company in exchange for e-payment and online retail business, Mobile Credit Payment (MC Payment).

The total consideration includes a base consideration of up to S$80 million for the sale shares held by shareholders of MC Payment; an additional consideration of up to S$20 million; and up to S$25 million in respect to the acquisition of iFashion Group - an online fashion platform that MC Payment is taking over.