BroadChain has learned that on March 20, AlphaTON Capital (NASDAQ: ATON), a Nasdaq-listed TON treasury company, announced its acquisition of a 60% controlling stake in the gaming platform GAMEE for up to $11 million. The deal includes a two-year, performance-based earn-out provision.
GAMEE, a wholly-owned subsidiary of Animoca Brands, was valued at $18 million in this transaction.
Per the acquisition agreement, AlphaTON Capital will take over the day-to-day operational management of GAMEE and formally enter into a strategic alliance with Animoca Brands. The agreement also stipulates that Animoca Brands cannot acquire a controlling stake in AlphaTON Capital for a period of two years.