YuuZoo acquires gaming firm Infocomm Asia in an all-share deal

YUUZOO has acquired 100 per cent of Infocomm Asia Holdings (IAH), a gaming and game distribution company.

The deal will see YuuZoo acquiring all the issued share capital of IAH in exchange for the issuance of 50 million consideration shares at an issue price of S$1 per consideration share.

The effective consideration paid by YuuZoo for IAH is US$ 14.4 million, given the last traded by price of YuuZoo shares on the SGX-ST of 36 Singapore cents.

YuuZoo has since requested to lift its trading halt.