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Pivoting to AI-Entertainment, Paranovus Entertainment Technology Ltd Signs Letter of Intent to Acquire BlueLine Studios

Pivoting to AI-Entertainment, Paranovus Entertainment Technology Ltd Signs Letter of Intent to Acquire BlueLine Studios

Paranovus娛樂科技有限公司轉向人工智能娛樂,簽署了收購BlueLine Studios的意向書
PR Newswire ·  2023/09/06 20:30

Expansion into AI-powered online entertainment industry reflects strategic evolution of the business model

向人工智能驅動的在線娛樂行業的擴張反映了商業模式的戰略演變

NANPING, China, Sept. 6, 2023 /PRNewswire/ -- Paranovus Entertainment Technology Ltd. (Nasdaq: PAVS) (the "Company") today announced that it has signed a non-binding Letter of Intent (LOI) to acquire 100% of BlueLine Studios Inc. ("BlueLine"), a portfolio company of Caravan Digital L.P. ("Caravan"), a co-founder of consumer companies authentically powered by iconic artists and athletes in partnership with Creative Artists Agency ("CAA").

南平, 中國2023年9月6日 /PRNewswire/ — Paranovus Entertainment Technology Ltd.(納斯達克股票代碼:PAVS)(“公司”)今天宣佈,它已簽署一份不具約束力的意向書(LOI),收購Caravan Digital L.P.(“Caravan”)的投資組合公司BlueLine Studios Inc.(“BlueLine”)100%的股份。BlueLine Studios Inc.(“BlueLine”)是Caravan Digital L.P.(“Caravan”)的投資組合公司。BluA”)。

The deal is anticipated to close in the fourth quarter of 2023, provided that the parties reach a definitive agreement and the Company secures financing of at least $5 million. The completion of the deal is subject to customary approvals and closing conditions, including but not limited to satisfactory completion of due diligence and the Company's receipt of the payoff letters pertaining to certain indebtedness of BlueLine.

該交易預計將於2023年第四季度完成,前提是雙方達成最終協議,並且公司獲得融資 至少 500 萬美元該交易的完成取決於慣例批准和成交條件,包括但不限於令人滿意地完成盡職調查以及公司收到與BlueLine某些債務有關的回報信。

Under the terms of the LOI, PAVS would acquire 100% of BlueLine's equity interests from Caravan and other equity owners of BlueLine. The consideration to be paid by the Company to purchase the equity interests is approximately $3.2 million in cash and unregistered Class A ordinary shares. Additionally, the Company will issue $1.11 million worth of its unregistered Class A ordinary shares to Caravan. Furthermore, the Company will issue $3.6 million worth of its unregistered Class A ordinary shares and $2.0 million worth of restricted stock units to a special purpose vehicle ("SPV") controlled by Mike Teh Wang, who represents BlueLine management. Finally, the Company will make a payment of $1.63 million in cash and unregistered Class A ordinary shares to the financial advisor for this Acquistion at the closing.

根據意向書的條款,PAVS將從Caravan和BlueLine的其他股權所有者手中收購BlueLine100%的股權。公司爲購買股權而支付的對價約爲 320 萬美元 現金和未註冊的A類普通股。此外,公司將發行 111 萬美元 其未註冊的A類普通股的價值歸Caravan。此外,公司將發行 360 萬美元 其未註冊的A類普通股的價值以及 200 萬美元 受控制的特殊用途車輛(“SPV”)的限制性庫存單位的價值 邁克·特王,他代表 BlueLine 管理層。最後,公司將支付 163 萬美元 收盤時以現金和未註冊的A類普通股向本次收購的財務顧問提供。

Based in Vancouver, BlueLine is a video game developer that builds engaging interactive gaming experiences powered by world-class celebrity talent. BlueLine's portfolio of games includes a previously released match-3 mobile game, Apple Arcade's first trivia game, and other strategic projects in development.

基於 溫哥華,BlueLine 是一家視頻遊戲開發商,由世界一流的名人天賦提供支持,打造引人入勝的互動遊戲體驗。BlueLine的遊戲組合包括之前發佈的三消手遊、Apple Arcade的第一款問答遊戲以及其他正在開發的戰略項目。

Before joining BlueLine, its team had amassed extensive experience in the gaming industry. Their track record includes participating in the development of multiple AAA titles, such as numerous Need For Speed and EA Sports games at Electronic Arts as well as top mobile titles such as the Simpsons: Tapped Out at Electronic Arts and Disney Magic Kingdom at Gameloft. Additionally, their past expertise extends to helping engineer backend systems used by some of the biggest games in the industry such as EA Sports titles at Electronics Arts.

在加入BlueLine之前,其團隊在遊戲行業積累了豐富的經驗。他們的往績包括參與開發多款AAA級遊戲,例如Electronic Arts的許多極品飛車和EA Sports遊戲,以及頂級手機遊戲,例如電子藝界的《辛普森一家:Tapped Out》和Gameloft的迪士尼魔法王國。此外,他們過去的專業知識還包括幫助設計業內一些大型遊戲所使用的後端系統,例如Electronics Arts的EA Sports遊戲。

Under the terms of the LOI, BlueLine will have a right of first offer for any talent-related game development projects from Caravan for five years following the closing of the acquisition. During this period, BlueLine can decide to take on any potential gaming-related collaboration with talent which would allow BlueLine to execute its vision of delivering unforgettable, interactive chart-topping experiences that connect fans with their favorite celebrities.

根據意向書的條款,BlueLine將有權在收購完成後的五年內首次向Caravan提出任何與人才相關的遊戲開發項目。在此期間,BlueLine可以決定與人才進行任何與遊戲相關的潛在合作,這將使BlueLine能夠實現其願景,即提供令人難忘的互動排行榜榜首體驗,將粉絲與他們最喜歡的名人聯繫起來。

The BlueLine team intends to leverage its experience in Artificial Intelligence (AI) in games and incorporate advancements in content generation to create ever expanding experiences. Following the acquisition, BlueLine will focus on the development of the Hollywood Sunshine project. This new game project, is expected to be a unique social gaming platform that features multiple celebrities and is driven by AI-generated content (AIGC). The Hollywood Sunshine project will be an engaging story-based role-playing game (RPG) set in an open world, available on both PC and mobile platforms. BlueLine aims to captivate users with real-time, instantaneous player-specific content generation, offering many hours of narrative-driven gameplay. Additonally, Caravan has agreed to bring at least three relevant star talents to participate in the game, assuming the acquisition is successfully completed.

BlueLine團隊打算利用其在遊戲人工智能(AI)方面的經驗,並結合內容生成的進步來創造不斷擴展的體驗。收購後,BlueLine將專注於開發好萊塢陽光項目。這個新遊戲項目有望成爲一個獨特的社交遊戲平台,以多位名人爲特色,並由人工智能生成的內容(AIGC)驅動。Hollywood Sunshine 項目將是一款引人入勝的基於故事的角色扮演遊戲(RPG),背景設定在開放世界中,可在PC和移動平台上使用。BlueLine旨在通過實時、即時生成特定於玩家的內容來吸引用戶,提供數小時的敘事驅動型遊戲玩法。此外,假設收購成功完成,Caravan已同意帶領至少三名相關的明星人才參與遊戲。

Xuezhu Wang, CEO and the Chairman of the Board of the Company, commented, "Completing this acquisition as envisioned would signify the beginning of an exciting new chapter for Paranovus Entertainment Technology Ltd. It will position us favorably as an AI-driven gaming and entertainment enterprise. The extensive expertise of BlueLine's seasoned team and their long-standing relationships with Caravan and CAA will bring tremendenous value to our Company. Furthermore, the potential synergies between BlueLine and 2Lab3, both sharing a similar focus on AI, will further contribute to our future growth."

王雪珠,公司首席執行官兼董事會主席評論說:“按設想完成此次收購將標誌着Paranovus Entertainment Technology Ltd開啓激動人心的新篇章。它將使我們成爲一家人工智能驅動的遊戲和娛樂企業。BlueLine經驗豐富的團隊的廣泛專業知識以及他們與Caravan和CAA的長期關係將爲我們公司帶來巨大的價值。此外,BlueLine和2Lab3之間的潛在協同效應將進一步促進我們的未來增長,這兩者都對人工智能有着相似的關注。”

"Partnering with a company that supports and shares our vision and values presents a remarkable opportunity," stated Mike Teh Wang, CEO of BlueLine. "Our talented team is thrilled to join forces with PAVS after the close of the acqusition, leveraging our AI-powered technology and unique celebrity resources to develop and deliver an exclusive social gaming platform highlighting various celebrities."

他說:“與一家支持並認同我們的願景和價值觀的公司合作是一個難得的機會。” 邁克·特王,BlueLine 的首席執行官。“收購結束後,我們才華橫溢的團隊很高興能與PAVS聯手,利用我們的人工智能技術和獨特的名人資源來開發和提供一個以各種名人爲特色的獨家社交遊戲平台。”

If successfully finalized, the acquisition of BlueLine will be the latest milestone for the Company, further demonstrating its new strategic focus on the burgeoning field of AI-powered pan-entertainment. In March 2023, PAVS acquired 2Lab3, a Los Angeles-based firm that initially focused on Web3 but has recently shifted its focus towards the development of AI-powered applications, marking the Company's first step into this emerging technology field.

如果成功完成,對BlueLine的收購將是該公司的最新里程碑,這進一步表明了其對新興的人工智能泛娛樂領域的新戰略重點。在 2023 年 3 月,PAVS 收購了 2Lab3,a 洛杉磯這家公司最初專注於Web3,但最近已將重點轉移到開發人工智能驅動的應用程序上,這標誌着該公司向這一新興技術領域邁出了第一步。

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About Paranovus Entertainment Technology Ltd.

關於 Paranovus 娛樂技術有限公司

Headquartered in Nanping, China, Paranovus Entertainment Technology Ltd. (fka Happiness Development Group Limited) is currently planning a strategic transition. As part of this transition, the Company will suspend its loss-incurring e-commerce and internet information and advertising businesses in September. Instead, the Company intends to shift its focus to the AI-powered entertainment industry by entering into a non-binding Letter of Intent (LOI) with BlueLine.

總部設在南平 中國,Paranovus娛樂技術有限公司(fka Happiness Development Group Limited)目前正在計劃戰略過渡。作爲過渡的一部分,該公司將在9月份暫停其虧損的電子商務和互聯網信息和廣告業務。相反,該公司打算通過與BlueLine簽訂不具約束力的意向書(LOI),將重點轉移到人工智能驅動的娛樂行業。

Following the suspension of these businesses and the disposal of its nutraceutical and dietary supplements business in August 2023, the Company's only remaining operating business in China will be the automobile sales business.

在暫停這些業務並出售其營養保健品和膳食補充劑業務之後 2023 年 8 月,該公司唯一剩下的運營業務 中國 將是汽車銷售業務。

For more information, visit .

欲了解更多信息,請訪問。

BlueLine Studios Inc.

BlueLine 影城公司

Headquartered in Vancouver, Canada, BlueLine Studios Inc. is a gaming studio that specializes in creating interactive entertainment in collaboration with world-class celebrities. Being backed by Caravan enables BlueLine access to star talents to deliver chart-topping interactive experiences for users.

總部位於 加拿大溫哥華,BlueLine Studios Inc. 是一家遊戲工作室,專門與世界級名人合作創作互動娛樂。在Caravan的支持下,BlueLine可以接觸到明星人才,爲用戶提供排行榜榜首的互動體驗。

For more information, visit

欲了解更多信息,請訪問

Forward-Looking Statements

前瞻性陳述

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and North America, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

本新聞稿包含1995年《私人證券訴訟改革法》所定義的前瞻性陳述。前瞻性陳述包括有關計劃、目的、目標、戰略、未來事件或業績的陳述,以及與歷史事實陳述以外的基本假設和其他陳述。當公司使用諸如 “可能”、“將”、“打算”、“應該”、“相信”、“期望”、“預期”、“項目”、“估計” 之類的詞語或不完全與歷史問題相關的類似表述時,它是在做出前瞻性陳述。前瞻性陳述不能保證未來的業績,涉及風險和不確定性,可能導致實際業績與前瞻性陳述中討論的公司預期存在重大差異。這些陳述受不確定性和風險的影響,包括但不限於以下方面:公司的目標和戰略;公司未來的業務發展;產品和服務的需求和接受度;技術的變化;經濟狀況;聲譽和品牌;競爭和定價的影響;政府監管;總體經濟和商業狀況的波動 中國北美,以及公司向美國證券交易委員會提交的報告中包含的上述任何風險或與之相關的假設以及其他風險。出於這些原因,除其他外,提醒投資者不要過分依賴本新聞稿中的任何前瞻性陳述。公司向美國證券交易委員會提交的文件中討論了其他因素,可在www.sec.gov上查閱。公司沒有義務公開修改這些前瞻性陳述以反映本聲明發布之日之後發生的事件或情況。

Media Contact:
Michael Chen
Paranovus
929.288.7418
[email protected]

媒體聯繫人:
邁克爾·陳
Paranovus
929.288.7418
[電子郵件保護]

Investor Relations Contact:
Jackson Lin
Lambert
646.717.4593
[email protected]

投資者關係聯繫人:
傑克遜林
蘭伯特
646.717.4593
[電子郵件保護]

SOURCE Paranovus Entertainment Technology Ltd

來源 Paranovus 娛樂技術有限公司

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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