Palm World plans to acquire 70% stake in Canadian game company to expand its influence in the North American market

Palm World announced that it plans to acquire a 70% stake in Canadian Noodlecake Studios Inc. through cash payment to expand the company's influence in the North American market. The transaction price is approximately RMB 28.9604 million.

Original title: Palm World plans to acquire a Canadian game company for 28.96 million yuan to expand its influence in the North American market.

Palm World announced that it plans to acquire a 70% stake in Canadian Noodlecake Studios Inc. through cash payment to expand the company's influence in the North American market. The transaction price is approximately RMB 28.9604 million.

Noodlecake Studios Inc. was established in February 2011. It is an independent game studio in Canada. Its main business is game research and development and distribution. Representative products include "Fire First Aid","Brick Bulls","Rush Out of the Hexagon", etc. According to the financial report, as of December 31, 2016, Noodlecake Studios Inc.'s net assets were approximately 8.93 million yuan, operating income during the reporting period was 27.44 million yuan, and net profit was approximately 5.54 million yuan.

Palm World was listed on the New Third Board in February 2016. It is mainly engaged in game R & D and operation business, and its representative product is PopStar! "Eliminate the Stars", the announcement stated that the acquisition of Noodlecake Studios Inc. will help enhance the company's R & D and distribution capabilities, and at the same time deploy overseas markets to accumulate resources for products to go overseas.

Editor: Nancy