Blue Hat Interactive (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality (“AR”) interactive entertainment games, toys and educational materials in China, has signed a definitive agreement for the acquisition of 51% of Fuzhou Csfctech Co. Ltd. The agreement also includes Csfctech’s two subsidiaries. A developer and distributor of mobile games in China, Csfctech offers more than 100 games on several platforms. The company has an operation center in mainland China and an international user base across mainland China, Japan, Taiwan, the United Arab Emirates and Africa. The acquisition is expected to close by the end of the year. “This is a milestone agreement for Blue Hat, and we are pleased to move forward with the official signing of the definitive agreement,” said Blue Hat CEO Xiaodong Chen in the press release. “This will broaden our interactive gaming portfolio and allow our Company to increase sales even further through the expansion of available distribution platforms. We were extremely diligent in working to move forward on this acquisition throughout a challenging 2020, and by the end of the year expect to close and acquire a company that will greatly strengthen our mobile games business under favorable terms in both valuation and performance incentives. We feel that the benefits of our combined companies will help to drive greater brand awareness for Blue Hat and each of our lines of business in mobile games, AR toys and AR education.”
To view the full press release, visit https://ibn.fm/PCgTP
About Blue Hat Interactive Entertainment Technology
Blue Hat Interactive is a producer, developer and operator of AR interactive entertainment games and toys in China , including interactive educational materials, mobile games, and toys with mobile game features. The company’s interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information about the company, please visit https://ir.BlueHatGroup.com/investor-relations.
NOTE TO INVESTORS: The latest news and updates relating to BHAT are available in the company’s newsroom at http://ibn.fm/BHAT
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