Stormwind Technology plans to strategically cooperate with MPS and its participating funds to acquire 65% equity in MPS

Stormwind announced that the company and MP&Silva Holding S.A. signed a "Strategic Cooperation Memorandum" on May 23. The agreement made relevant agreements on promoting the development and strategic growth of the two parties 'business in China and global.

Original title: Stormwind Technology plans to cooperate strategically with sports media company MP&Silva

Stormwind Technology announced that the company and MP&Silva Holding S.A. signed a "Strategic Cooperation Memorandum" on May 23. The agreement stipulates relevant cooperation matters related to promoting the development and strategic growth of both parties 'business in China and global.

Data shows that MP&Silva is a well-known intermediary agency, mainly engaged in media broadcast rights management, managing media broadcast rights and distribution agreements for important professional sports leagues around the world, and carrying out a series of sports broadcast rights cooperation projects, as well as purchasing and holding multiple sports property rights, etc. Last year, the agency sold all-European rights to NFL events until the end of 2019.

Stormwind will use its leading position in China's entertainment market, and MPS will use its influence in the global sports media market to promote the development and strategic growth of both parties 'businesses in China and global.

In addition, Shanghai Jinxin Investment Consulting Partnership, an industrial fund established by the company, recently completed the acquisition of a 65% stake in MPS held by MPS shareholders, and completed the delivery on May 23. Storm Technology said that the fund's above investments have no material impact on the company's operations. Stormwind Technology accounts for a small proportion of Jinxin's investment, and there is no controlling relationship between Stormwind Technology and Jinxin's investment. It is worth mentioning that according to Bloomberg, citing people familiar with the matter, the transaction values MP&Silva at US$1.4 billion.

Editor: Nancy