- SoLVBL Solutions (SOLV) has signed a non-binding letter of intent to acquire Darkhorse Films Limited for $10.15 million
- The $10.15 million transaction value will be settled via SoLVBL common shares, cash and deferred cash payment
- This transaction provides a potentially lucrative revenue stream in the digital film, content production and distribution market for SoLVBL in the US, UK and Europe
- Kaiser Akbar, President & CEO of SoLVBL, sat down with Sabrina Cuthbert to discuss the news
- SoLVBL is an innovative cybersecurity and data authentication company
- SoLVBL Solutions Inc. (SOLV) opened trading at C$0.04
SoLVBL Solutions (SOLV) has signed a non-binding letter of intent to acquire Darkhorse Films Limited for $10.15 million.
Darkhorse Films Limited is a United Kingdom-registered entertainment business.
This transaction provides a potentially lucrative revenue stream in the digital film, content production and distribution market for SoLVBL in the US, UK and Europe. The Q by SoLVBLplatform will be integrated into the Darkhorse technology platform, delivering security to Darkhorse digital media assets and to the content of other film and media companies.
Kaiser Akbar, President & CEO of SoLVBL, sat down with Sabrina Cuthbert to discuss the news.
“This acquisition marks the beginning of a new era for SoLVBL and will offer the company’s Q by SoLVBL platform direct access to a number of new and highly scalable industries, specifically throughout the USA, Europe and the UK. Furthermore, the transaction will offer the company increased financial and product flexibility, including new revenue streams, while adding a revenue-generating business. While this is our first acquisition, we have previously noted that we will seek acquisitions that are financially accretive, advance our technology platform, and enhance our pipelines of opportunities. Our core focus remains the expansion of Q by SoLVBL proprietary technology, broadening our suite of blockchain products, growing our potential customer base significantly and scaling our geographic presence. Our Board and senior management believe the acquisition of Darkhorse will benefit our stakeholders and accelerate the growth opportunities of our product suite.”
SoLVBL will acquire all the issued and outstanding shares of Darkhorse for C$10,150,000 to be settled via SoLVBL common shares, cash and deferred cash payment.
At the close of the transaction, all employees and consultants of Darkhorse will join SoLVBL.
Upon the closing of the transaction, SoLVBL will hold 100 per cent of the shares in Darkhorse.
Darkhorse is both a blockchain-powered B2B and DTC movie digital content studio.
SoLVBL is an innovative cybersecurity and data authentication company on a mission to empower better, faster decisions by developing a universal standard for establishing digital record authenticity. Q by SoLVBL is a proprietary technology platform that provides digital record authentication at high speed.
SoLVBL Solutions Inc. (SOLV) opened trading at C$0.04.