The mobile content and data intelligence company Mobile Streams has acquired the remaining 51% of KrunchData following its acquisition of the initial 49% stake in 2021.
Mobile Streams has taken over complete ownership by acquiring the remaining 51% of KrunchData for £765,000.
The company is paying £265,000 in cash and the remainder in 166,666,666 shares issued at 0.30p each.
Mobile Streams had already acquired 49% of KrunchData in 2021 for £735,000. The consideration consisted of £500,000 cash and 90,384,615 ordinary shares issued at 0.26p each.
The remaining 51% of KrunchData was available for Mobile Streams to acquire at any point within the next 2 years for £765,000.
The acquisition by Mobile Streams entitles them to all the systems, softwares and expertise formerly owned by KrunchData.
The streams data business provides ‘data insight, intelligence, visualisation services and marketing optimisation tools’.
Half of the revenue from streams data would have also been owed to Krunch from January 2022 til the end of the joint-venture, providing an additional incentive for Mobile Streams to acquire the company and safeguarded the agreement between the firms.
Bob Moore, Chairman, Mobile Streams said, “the board is pleased to announce this transaction to acquire full ownership and control of KrunchData.”
“KrunchData has provided the expertise, systems, software and IP which has enabled the company to grow its streams data platform which supports the growth of our data insight, intelligence and visualisation services and marketing optimisation tools, as well as the growing content revenues from esports and gaming.”
In 2021, KrunchData reported net losses of £85,000 with revenues of £397,000.
Mobile Streams’ shares were trading down 1.4% to 30p after the company reported an 81% increase in losses.