Artivision Technologies in non-binding agreement to sell Artimedia for S$50m

CATALIST-LISTED Artivision Technologies said it is planning to sell Artimedia Technologies, its media solutions subsidiary that provides video monetisation services to advertisers and publishers.

It has entered into a non-binding term sheet with an independent third party on the proposed disposal of Artimedia for S$50 million in cash.

The term sheet is not legally binding except for an exclusivity period of three months where negotiations will take place.

Artivision last traded on Wednesday at S$0.022, up S$0.004 or 22 per cent, before a trading halt was called for. Shares trade again on Friday.