SG Dealbook: YuuZoo-SportsHero pact, VGO in RTO deal, Sarine buys Diamining
Jun 6, 2016
June 6, 2016:
YuuZoo is partnering with SportsHero to increase its spread while VGO is engaged in a potential reverse takeover deal with management consultancy Sky Win and Sarine Technologies has acquired Diamining to strengthen its offerings. YuuZoo partners with SportsHero
Social e-commerce network provider YuuZoo Corp has entered into a partnership with SportsHero , a socially-driven sports prediction community. The pact is expected to bring SportsHero to YuuZoo’s network of over 118 million consumers spread across 164 countries. The partnership will see YuuZoo users accessing SportsHero’s social sports prediction platform. The platform comes under MyHero, which owns and develops finance app TradeHero. SportsHero will be listing on the Australia Securities Exchange (ASX) via an RTO deal with Nevada Iron (NVI) . VGO to acquire Sky Win
VGO Corporation has entered into a sale and purchase agreement to acquire Sky Win Management Consultancy Pte Ltd with a potential for a reverse takeover. The purchase consideration, which is yet to be determined, is subject to the approval of Singapore Exchange (SGX) and company shareholders. According to the VGO Corp board, the proposed acquisition will help the company comply with SGX’s minimum trading price requirement. The deal will also cover conditional restructuring of Sky Win to hold direct or indirect stake in five targeted subsidiaries: Hatten International Pte Ltd, Fuyuu Group Sdn Bhd, Fuyuu Resources Sdn Bhd, Fuyuu Venture Sdn Bhd and Gold Mart Sdn Bhd. Sarine Tech acquires tech & assets of DiaMining
Sarine Technologies – an SGX Mainboard-listed Israeli corporation specialising in precision technology products for gems industry – has acquired the technology and assets of DiaMining for $1.2 million. DiaMining develops point of sale (POS) applications for diamonds, gemstones and jewellery. Uzi Levami , CEO of Sarine stated, “Sarine’s acquisition of DiaMining’s assets will enable us to better support our customers at their actual points of sale, and to accelerate the Sarine Profile’sTM adoption as an integral part of the diamond or gemstone jewellery sales process.”
“The ability to integrate with our customers’ inventory management systems will also allow us to provide a more complete solution and to offer our customers significant cost savings in inventory procurement and management,” he added.