M&A

M&A

MPL sells 3 of Good Game Exchange's assets

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Mobile Premier League (MPL) has sold its assets in Ante Multimedia Private Limited, Good Game Inc, and GGX PTE - all subsidiaries of its Good Game Exchange (GGX) unit. With the acquisition of Good Game Exchange in March this year, MPL made its debut in the non-fungible token (NFT) trading space as a competitor to Rario, which is owned by fantasy sports platform Dream11. MPL has identified assets of GGX and intends to “add substantial liquidity to the group” by liquidating such assets. At first, VC firm CoinFund had entered into a token purchase agreement with MPL to fund the acquisition of GGX Protocol. But that agreement was cancelled, and now CoinFund has invested USD 300,000 in the parent entity at an enterprise valuation of USD 1.8 billion, a decrease of USD 500 million compared to its last funding round. MPL moved two properties - Underworld Gang Wars and Underworld Gang Racing - to its subsidiary Mayhem Studios through a share swap valued at USD 12.5 million. On a cumulative basis, MPL made USD million from all the transactions mentioned above. Founded in 2018 by Sai Srinivas Kiran G and Shubham Malhotra, the company has raised nearly USD 375.5 million till date.