I suspect this is a 'Merger' dressed up as an 'Acquisition', probably motivated by the level of Govt Development support offered ( and to be offered ) in Australia. ICandy listed here in 2016 and their Financial achievements should be viewed accordingly.
All said, we will see more of this going forward. A massive global industry awaits for those worthy of success, this prize being far bigger than any perceived rivalry in Australia. The fact that ICandy tried to draw a comparison of the new post acquisition Company's financials versus that of Playside (@30 June21) says quite a bit about the Company. Poor form for a listed entity IMO.
Will dig through their collective history and see if there are any meaningful Revenue indicators, for post Original IP release. Same with 'Work for Hire'. Until then.
Rokewa
Ann: PlaySide Announces Capital Raise to Accelerate Growth, page-34
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