@panguany comments on this Gamma acquisition for US$350K? Does...

@pangu

any comments on this Gamma acquisition for US$350K? Does it provide any extra "oomph" than what we already have acquired over such random acquistions in the last 2 years?

I am not much of a fan of acquisitions left right & centre but it doesn't matter what I think...

ASX Release

27 June 2019

Animoca Brands acquires Gamma to boost gamer audience and distribution capabilities

• Animoca Brands to acquire 100% of Gamma Innovations Inc. (“Gamma”) to leverage new audiences and leverage distributed computing power

• Gamma’s GammaNow computing engine is a desktop application that leverages users’ idle processing power

• Acquisition price is US$350,000, with a potential earnout of US$2,500,000 if Gamma achieves (a) a cumulative revenue target of at least US$5 million over the three year period after the closing of the transaction, and (b) a net profit of at least 5% over that period. Animoca Brands may also, at its sole discretion, commit up to an additional US$350,000 to fund Gamma’s operations, research and development, and customer acquisition