MultiMetaVerse Holdings Limited, an animation and entertainment company for young consumers in China, has entered into a non-binding letter of intent with Orient TM Ruibo Limited. The Company and/or its affiliates intend to purchase a 72.81% equity stake in Orient TM Parent Limited in compliance with the Letter of Intent. Leading family interactive entertainment company Taomee is owned by TM Ruibo and/or its affiliates, either directly or indirectly.
If the proposed transaction goes through, Taomee’s three iconic IP brands, “Mole’s World,” “Seer,” and “Flower Angel,” would be added, significantly expanding MMV’s IP portfolio. Additionally, Taomee’s product line would broaden MMV’s source of revenue. Since MMV and Taomee currently employ comparable business models and benefit from complementary strengths and advantages, more synergies are anticipated.
“We are extremely excited to work with Taomee, a standout company in China’s entertainment industry,” said Yiran Xu, Chairman and CEO of MMV.
Taomee, a leading media and entertainment company for young people in China, was founded in 2007, and its well-liked original brands include “Mole’s World,” “Seer,” and “Flower Angel.” Taomee offers a range of content and entertainment experiences through the internet via web games, mobile games, and online broadcasted animations, as well as through conventional channels, including animated box office films, TV series, books, and consumer products, most notably toys and trading cards.
Taomee has released more than ten films and more than 800 animated episodes, including “Mole’s World,” “Seer,” and “Flower Angel,” for hundreds of Chinese TV channels as well as the major streaming video media platforms. Additionally, Taomee has a track record in the creation and management of these games, having released eight online games based on its well-known “Mole’s World,” “Seer,” and “Flower Angel” brands.
Leading Chinese entertainment and media company Taomee Holdings Limited, a fully owned subsidiary of Orient TM, was listed on the New York Stock Exchange in 2011. By merging with Orient TM Merger Limited in 2016, it was taken private by Orient TM and a portion of Taomee’s management, making it an entirely owned subsidiary of Orient TM.
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