ADVENTURE BOX AND PPW TAKE FIRST STEP TO FORM PARTNERSHIP FOR CHINAAdventure Box and PPW Sports & Entertainment (HK) Limited have signed a Joint Venture Term Sheet Proposal ("Letter of intent") to form a joint venture company in Hong Kong in order to develop, localize and distribute the Adventure Box platform in Greater China, including the People's Republic of China, Hong Kong, Macau and Taiwan. PPW is a leading brand facilitator, representing brands such as, Peppa Pig, Hey Duggee, Discovery Channel, Pantone, Real Madrid and FC Barcelona, etc.
Adventure Box is the leading streaming platform for consumer created computer games. A single click on a web link allows a user to start creating, sharing and playing computer games.
PPW shall set up the Joint Venture Company under the Companies Ordinance of Hong Kong. Thereafter, the Joint Venture Company shall set-up a wholly owned subsidiary in China. The Joint Venture Company shall carry on the following business activities:
1. Develop, localize, facilitate and distribute the Adventure Box streaming platform created by Adventure Box Technology AB (publ); and
2. Develop, manage and monetize the brand, character and related trademarks based on the platform Adventure Box across all content, categories and services across Greater China.
-We see tremendous potential in marketing Adventure Box in Greater China and are eager to develop the strong fit between Adventure Box and our many partners in the region, says Ivan Chan, President and CEO of PPW.
-This is a huge step for Adventure Box, the competence, network and capital strength PPW represents allows us to enter the Greater China market in the strongest possible way, says Christopher Kingdon, Director and CEO of Adventure Box.
The above does not constitute binding agreements but negotiations are ongoing.
Key data about the Chinese Video/Mobile game market
· Revenue in the Video Games segment amounts to USD 26 billion in 2020 and growing.
· This market's largest segment is Mobile Games with a market revenue of USD 20 billion in 2020.
· User penetration is 47.2% in 2020 and is expected to hit 50.1% by 2024.
· The average revenue per user (ARPU) currently amounts to USD 40.6.
Data from www.statista.com
This information is such that Adventure Box Technology AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation. Information was provided through the above contact persons' publication for publication on 11 March 2020 at 13:30 CET. FOR MORE INFORMATION CONTACT:
Christopher Kingdon, CEO and Director, Adventure Box, +46 (0)73 051 1414, [email protected], corp.adventurebox.com
Ivan Chan, President and CEO, PPW, +852 9020 4988, [email protected], https://www.ppwlicensing.com/about-en.html
Certified Advisor FNCA Sweden AB, +46(0)8-528 00 399, [email protected]
The following documents can be retrieved from beQuoted
20200311-Adventure-Box-PPW-EN-FINAL.pdf ABOUT PPW SPORTS & ENTERTAINMENT (HK) LIMITED
PPW is a leading global brand facilitator, representing brands such as, Peppa Pig, Hey Duggee, Discovery Channel, Pantone, Real Madrid and FC Barcelona, etc. PPW has received the LIMA awards for Best Licensing Agency and Best Licensed Promotion several times.
ABOUT ADVENTURE BOX TECHNOLOGY AB
Adventure Box makes it easy, and fun to make, share and play 3D games online. The company's world-leading streaming technology is patent protected. Founded in Stockholm 2014, the company also has staff in Paris, Seville, Malta and Karela (India). Adventure Box is traded at Nasdaq First North Growth Market under the short name ADVBOX and ISIN code SE0012955276.
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