Telegram and TON (CRYPTO: $TON) infrastructure firm AlphaTON (NASDAQ: $ATON) says it acquired a 60% stake in GAMEE, a mobile gaming platform and subsidiary of Animoca Brands.
The acquisition, announced Thursday, values GAMEE at $18 million and adds over 119 million registered users to AlphaTON’s Telegram portfolio.
Under the terms of the agreement, AlphaTON said it will pay up to $11 million in a mix of cash, equity and performance-based earn-outs over a two-year period.
More From Cryptoprowl:
The British Virgin Islands based firm, which has been focused on scaling the Telegram ecosystem noted that GAMEE has established itself as a top gaming platform, having served over 10 billion gameplay sessions and over 61 million users integrated directly within the Telegram messenger APP.
“This acquisition is a transformative milestone for AlphaTON Capital,” said Brittany Kaiser, CEO of AlphaTON Capital. “By bringing GAMEE’s 119 million users and deep Telegram integration under our umbrella, we are not just acquiring a gaming platform, we are capturing a massive, active gateway to the next billion Web3 users. Our alliance with Animoca Brands further solidifies our position as the primary engine scaling the Telegram super-app ecosystem.”
As part of the closing, AlphaTON will pay $1.5 million in cash and approximately $2 million in ATON shares and warrants. The company also said it will acquire $2 million worth of GAMEE’s native GMEE (CRYPTO: $GMEE) token on the open market within 90 days of closing.
GAMEE’s leadership team, including CEO Martin Zakovec and CTO Miroslav Chmelka, will remain in their roles, while founder Bozena Rezab will transition to become the Head of AlphaTON Gaming.
The two companies are looking to close the acquisition within 30 days.
Shares of AlphaTON are sitting at 37 cents, up 6.91 percent in after hours trading.
