MultiMetaVerse Holdings Limited to Acquire AI E-commerce Company Bowong Technology

MultiMetaVerse Holdings Limited Announces Acquisition of Bowong Technology

MultiMetaVerse Holdings Limited (NASDAQ: MMV), a leading animation and entertainment company for young consumers in China, has announced a significant move in the AI e-commerce sector. The company has signed a definitive share exchange agreement to acquire Bowong AI Limited, which is expected to indirectly hold 100% equity interests in Bowong Technology (Shenzhen) Co., Ltd 1

1

Details of the Acquisition

The share exchange agreement, which supersedes a non-binding term sheet announced on October 2, 2024, outlines the following terms:

• MultiMetaVerse will issue and allot 37,000,000 Class A ordinary shares to the shareholders of Bowong AI Limited.
• Upon completion, Bowong AI Limited will become a wholly-owned subsidiary of MultiMetaVerse.
• Bowong Technology and its subsidiaries will become consolidated affiliates of MultiMetaVerse 2

  2

  .

Bowong Technology's Expertise

Bowong Technology is described as a company equipped with cutting-edge technologies, vertically integrated in the AI e-commerce sector. Its focus includes:

• Delivering comprehensive AI technologies and services for sellers.
• Catering to both emerging social e-commerce platforms and traditional e-commerce platforms 3

  3

  .

Related Stories

MultiMetaVerse Holdings Limited Signs Term Sheet with Bowong Technology for Strategic Collaboration

Global Mofy Metaverse Reports Significant Net Income Growth and Hosts Financial Results Webcast

Global Mofy CEO to Engage with Industry Leaders at SIGGRAPH 2024, Invited by NVIDIA China

Global Mofy's Gausspeed Showcases Advanced Generative AI at NVIDIA Forum During CNCC2024

MultiMetaVerse's Background

MultiMetaVerse Holdings Limited, founded in 2015, is known for:

• Creating the popular Aotu World brand, which has gained a significant following among young audiences in China.
• Developing a diverse product portfolio including animated content, comic books, short videos, collectibles, and mobile games.
• Expanding its brand portfolio with new creations such as Neko Album 4

  4

  .

Implications and Future Outlook

This acquisition marks a strategic move for MultiMetaVerse to expand its technological capabilities in the AI and e-commerce sectors. The integration of Bowong Technology's AI expertise with MultiMetaVerse's established entertainment platform could potentially create new synergies in content creation and e-commerce solutions.

However, the company has noted that the transaction is subject to various approvals and closing conditions. There is no guarantee that the deal will be completed in a timely manner or at all, introducing an element of uncertainty to the acquisition's outcome.