Liquid Media Group Ltd. (NASDAQ:YVR) jumped 12% after announcing the execution of a definitive agreement to purchase iNDIEFLIX Group Inc. iNDIEFLIX is an educational entertainment market leader, and Liquid Media plans to acquire it in an all-stock deal that will be completed in the coming days subject to customary closing conditions.
Liquid Media CEO Ronald Thomson said the acquisition is a massive step to the company and its business solution engine. The company works to support IP owners and creative professionals in the commercialization of content. Additionally, the acquisition will offer massive advantages to producers of social impact content. Also, iNDIEFLIX will help Liquid Media in driving growth and shareholder value in the coming months.
iNDIEFLIX is a subscription video streaming service focused on offering purposeful content.Co-founder and CEO Scilla Andreen said they are excited to join Liquid Media. Andreen added that their streaming service showing purposeful content and mission offers content monetization for creators in line with Liquid Media’s mission. With the acquisition, investors should keep an eye on YVR.
Market Reaction:
On Thursday, YVR stock soared 12% at $2.05 with more than 14.22 million shares, compared to its average volume of 4.61 million shares. The stock has moved within a range of $1.8800 – 2.2600 after opening the trade at $2 .
