Zedge, Inc. acquired substantially all assets of Emojipedia Pty Ltd. for approximately $7 million.
August 02, 2021
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Zedge, Inc. (NYSEAM:ZDGE) acquired substantially all assets of Emojipedia Pty Ltd on August 1, 2021. Jeremy Burge, Emojipedia?s Founder and Chief Emoji Officer will join the Zedge family. The transaction is immediately accretive to fiscal 2022 earnings.
Zedge, Inc. (NYSEAM:ZDGE) completed the acquisition of substantially all assets of Emojipedia Pty Ltd for approximately $7 million on August 1, 2021.The transaction consummated pursuant to an asset purchase agreement dated as of August 1, 2021. The total purchase price of the assets is not expected to exceed $7 million. $4.8 million was paid at closing and the balance will be determined based on an incentive structure linked to EBITDA generated from emojipedia.org during the first four month period following the closing and paid out on the six-month and twelve month anniversary of the closing. The assets purchased include emojipeida.org, a set of smaller websites, a bank of emoji related URLs and other assets related to the Seller?s business, including World Emoji Day, the annual World Emoji Awards, and Emojitracker.
Zedge, Inc. is engaged in building digital marketplaces and competitive games. The Company's products include Zedge Ringtones and Wallpapers, which is a freemium digital content marketplace offering mobile phone wallpapers, video wallpapers, ringtones and notification sounds; pAInt, a generative artificial intelligence (AI) wallpaper maker; GuruShots, a skill-based photo challenge game, and Emojipedia. It uses open-source software in connection with its services. The Zedge Ringtones and Wallpapers app is available both in Google Play and the App Store. Its GuruShots product offers a platform spanning iOS, Android, and the Web that provides an educational and structured way for amateur photographers to compete in a variety of contests. It has added non-fungible token (NFT) functionality to a limited number of Zedge Premium creators via NFTs Made Easy, and all NFT Made Easy transactions are made using Zedge Credits.