- SoLVBL Solutions (SOLV) has agreed to acquire Darkhorse Films Limited, a UK-registered blockchain-powered digital entertainment & e-commerce business
- The acquisition immediately expands the SoLVBL suite of digital products
- The total purchase price is $10.15 million, payable in cash and shares
- Kaiser Akbar, President & CEO of SoLVBL, sat down with Sabrina Cuthbert to discuss the news
- SoLVBL is a cybersecurity and data authentication company
- SoLVBL Solutions (SOLV) opened trading at C$0.03
SoLVBL Solutions (SOLV) has agreed to acquire Darkhorse Films Limited, a UK-registered blockchain-powered digital entertainment & e-commerce business.
The acquisition provides SoLVBL with a potentially lucrative revenue stream in the film, content production and film distribution markets. The company believes that the purchase of Darkhorse will provide access to long-term private and public capital markets and will accelerate its strategic business growth plan.
Kaiser Akbar, President & CEO of SoLVBL, sat down with Sabrina Cuthbert to discuss the news.
“This is an exciting day for the company and its shareholders. The SoLVBL team has been working hard to bring our data authentication/cyber security product to market and to identify worldwide opportunities for this technology. We believe that this acquisition is an exceptional first step to gaining a foothold in the European and North American cyber security markets. This acquisition almost doubles the size of our technology team, allowing us to onboard new customers quickly and efficiently, and will allow us to generate revenue expeditiously. This acquisition will further allow us to benefit from existing synergies with our acquisition partner, particularly in the digital film content production and distribution market in Europe and the United States. We will continue to actively assess further synergistic acquisitions and continue with our client diversification strategy, all with a view to diversifying and growing our business so as to provide increased shareholder value. We are thrilled to be working with the Darkhorse team as they share our vision for the strategic direction of SoLVBL.”
The transaction is expected to close on October 13, 2022. Shareholders of Darkhorse will hold approximately 115,384,615 SoLVBL common shares.
The total purchase price is $10.15 million. Twenty-five per cent of the purchase price will be settled in cash and seventy-five per cent in restricted shares of SoLVBL
Upon closing, Darkhorse will become a wholly-owned subsidiary of SoLVBL and will continue to operate under the existing Darkhorse Films brand.
Darkhorse is a blockchain-powered digital movie content studio.
SoLVBL is a cybersecurity and data authentication company.
SoLVBL Solutions (SOLV) opened the day trading at C$0.03.
