September 17, 2020 (ACCESSWIRE via COMTEX) -- VANCOUVER, BC / ACCESSWIRE / September 17, 2020 / YDX Innovation Corp. (TSXV:YDX)(OTC PINK:YDRMF)(FRA:APY1) ("YDX" or the "Company"), is pleased to announce that, further to its news release on July 10th, 2020, the Company has acquired all of the issued and outstanding shares in the capital of Render.GG ("Render"), a private corporation existing under the laws of England and Wales.
Render is a turnkey production studio that provides high-quality content management services to professional esports teams, brands and gaming streamers who are very active on YouTube, Twitch, Facebook, and other digital platforms.
"We are ecstatic to have closed the acquisition of such an experienced production company," said Daniel Japiassu, CEO of YDX Innovation. "Ben Watson and the Render team are the creative engines powering some of the largest content creators, teams and players in the esports industry. Render will help build the creative brand equity that will take YDX's current gaming assets, such as the Comic Convention's esports series, to a world-class level. Additionally, this acquisition will support our growth initiatives in the European market while expanding our product mix and service offering, while also offering internal cost saving opportunities for YDX's own production requirements. It's been an interesting journey over these past few months as YDX has grown its portfolio of companies under its esports division. I feel that Render was our missing piece in how the Company plans to service new and existing clients."
Most digital content creators, pro-players and pro-teams don't have access to their own in-house video and content teams and, instead, relay on boutique agencies [like Render] who can scale up or scale down the content, on-demand. Render is thus uniquely positioned to be the go-to source for a streamer's content strategy, production and management needs. Render's expertise and unique client-friendly workflow has enabled the company to deliver more than 3,000 videos for clients, which has translated into nearly one billion total views.
The transaction will include the intellectual property of "CLIPPY", an internal tool developed by Render, which integrates with Amazon's (NASDAQ: AMZN) Twitch platform. This integration allows for the automatic identification of highlights from any Twitch livestream/broadcast.
CLIPPY provides an element of automation via progressive algorithm. Within seconds, CLIPPY can display the best highlights from a broadcast using proprietary software, thus saving Render hours of work and significantly speeding up its internal workflow.
"We are very excited about completing this deal. We strongly believe in the mission and the vision YDX have and could not be more thrilled to be a part of this journey. Render was always built to focus on client service and pure excellence in execution. We see this acquisition as allowing us to maintain our vision on a larger scale and are enthused to add value to the entire YDX portfolio." - added Ben Watson, CEO and Founder of Render.
In consideration for the acquisition of Render, the Company will pay an aggregate purchase price of $850,000, consisting of: (i) cash consideration of $150,000 payable on the date which is thirteen (13) months from the closing of the Transaction, and (ii) stock consideration of $700,000 payable by the issuance of 3,500,000 shares in the capital of YDX (each, a "YDX Share") at a deemed price of $0.20 per YDX Share on closing (the "Payment Shares"). YDX will also retain the staff of Render, including Ben Watson as President of the (now) subsidiary.
NorthStar Venture Partners (www.northstarvp.com) were the exclusive sell-side advisors on this deal.
In connection with the acquisition, the Company issued 292,683 shares in the capital of YDX at closing to an arm's length finder, The Sarwal Group Enterprise Inc. (the "Finder").
About NorthStar Venture Partners
NorthStar Venture Partners is a boutique M&A advisory firm providing sell-side and buy-side M&A services, corporate strategy, valuations and consulting services to technology-enabled lower middle market businesses.
About YDX Innovation
YDX Innovation Corp. (TSXV: YDX :: www.ydxinnovation.com) is a global leader in the commercialization of immersive new technologies that incorporate virtual reality, augmented reality, esports and gaming. Its core business seeks to monetize through licensing its IP, developing interactive exhibitions and through esports tournaments and content.
Arkave VR Arena - https://sales.arkavevr.com/ - is a proprietary gaming platform that brings location based virtual reality to any location-based event or entertainment centre. Arkave features state-of-the-art free roam technology coupled with a vast library of both in-house and third party games.
YDreams Global - www.ydreamsglobal.com - has developed over 2,000 interactive and immersive experiences for some of the largest global brands including Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AB InBev, Qualcomm, Unilever, Fiat and the City of Rio de Janeiro.
BEAT Gaming - www.beat.gl - is an industry leading esports company that has organized internationally recognized events such as the Dota 2, Overwatch and PUBG BEAT Invitational. Since its creation, BEAT has organized over 30 professional and semi-pro esports events, which has reached over 40 million viewers globally.
Purple Mage Advisors - www.purplemage.com - Purple Mage Advisors (PMA) is a research and data analysis firm that specializes in player recruitment and development in the gaming industry. PMA helps esports and gaming companies with industry reports, player recruitment, player training, data analysis and relevant statistical reporting.
Director and CEO
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, without limitation: negotiations with sponsors and creation of a major esports brand. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Company's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Company's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Transaction, including: that the Company's assumptions in making forward-looking statements may prove to be incorrect; adverse market conditions; the inability of YDX to complete the Transaction on the terms announced or at all; the inability of YDX to finance any necessary costs associated with the Transaction; risks relating to the satisfaction of the conditions to closing the Transaction; that future results may vary from historical results; and that market conditions or competition may affect the outcome of the Transaction and the business. Except as required by securities law, the Company does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: YDX Innovation Corp.
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