Ann: ICI Acquires Gameconomy, leading Backend Tech Developer, page-4

Highlights:

● iCandy has signed a binding term sheet to acquire a 60% shareholding in gaming backend technology tools provider Gameconomy for a cash and share equivalent consideration of A$497,297

● Gameconomy is a boutique gaming software firm specializing in gaming technology, related to real-time in-game analytics and player-versus-player (PVP) gaming mechanics

● With the help of iCandy’s resources, Gameconomy is planning launch a new Metaverse-related PVP game in the first half of 2022

● Gameconomy will significantly augment iCandy’s software engineering and technology capabilities in its objectives to develop extensive game titles for the metaverse in line with its vision post-acquisition of Lemon Sky Studios

● The acquisition furthers iCandy’s aggressive M&A strategy, to be a global gaming developer power house