Grom Social Enterprises, Inc. to acquire Arctic7, Inc. to expand entertainment offerings through gaming
Acquiring Company
Grom Social Enterprises, Inc.
Acquired Company
Arctic7
Boca RatonAustinOtherInformation TechnologyMedia And EntertainmentGamingVideo GamesDescription
Grom Social Enterprises, Inc., a media and entertainment company dedicated to family-friendly programming and safe social media for kids, has entered into a non-binding letter of intent to acquire Arctic7, Inc., an emerging gaming industry service provider. The acquisition of Arctic7 will provide Grom with an opportunity to secure a foothold in the gaming industry and explore innovative ways to serve the entertainment needs of kids and families. This strategic move complements Grom's existing entertainment offerings and aligns with its goal of becoming a leading entertainment company.
Quick answer
Grom Social Enterprises, Inc. is acquiring Arctic7, announced March 7, 2024. Grom Social Enterprises, Inc. is based in Boca Raton, Florida, United States.
- How much did Grom Social Enterprises, Inc. pay for Arctic7?
- The deal value was not disclosed.
- What does Grom Social Enterprises, Inc. do?
- Grom Social Enterprises is an entertainment, technology and social media company dedicated to family friendly programming, web filtering technology, and safe, secure social media for kids.
- Where are Grom Social Enterprises, Inc. and Arctic7 based?
- Grom Social Enterprises, Inc. is based in Boca Raton, Florida, United States. Arctic7 is based in Austin, Texas, United States.
Source: Fundz verified event record.
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- VCI Global expands its technology portfolio with the acquisition of Playstack Limited's AI gamification brand engagement platforms (April 15, 2024)
- Canal+ increases shareholding in Multichoice to 40.01% (April 12, 2024)
- Golden Matrix Group Inc. completes acquisition of MeridianBet Group to expand global footprint and increase revenues (April 9, 2024)
- Grom Social Enterprises, Inc. Announces Acquisition of Arctic7 to Expand Entertainment Offerings (March 14, 2024)
- Aristocrat Leisure Limited to Acquire NeoGames S.A to Expand Global Gaming Solutions (April 18, 2024)
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Frequently asked
Who acquired Arctic7?
Arctic7 was acquired by Grom Social Enterprises, Inc., based in Boca Raton. The deal was reported on March 7, 2024. Grom Social Enterprises is an entertainment, technology and social media company dedicated to family friendly programming, web filtering technology, and safe, secure social media for kids. Grom Social Enterprises, Inc. is privately held and operates in Other.
When did Grom Social Enterprises, Inc. acquire Arctic7?
Grom Social Enterprises, Inc.'s acquisition of Arctic7 was reported on March 7, 2024. Grom Social Enterprises, Inc., a media and entertainment company dedicated to family-friendly programming and safe social media for kids, has entered into a non-binding letter of intent to acquire Arctic7, Inc., an emerging gaming industry service provider. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Arctic7 do?
Arctic 7 is a collective of studios, with teams around the world dedicated to offering full game development, co-development, and virtual production. Our studios include Narwhal Studios, Star Fort Games, Arctic7 Austin, and Arctic7 Montenegro. It is privately held, operating in Gaming, and is based in Austin.
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