17LIVE Fuels Virtual IP1 Growth with Acquisition of Leading Japanese VTuber Company
● Paves the way for transformation into an IP-powered livestreaming entertainment platform
Singapore, 4 November 2024 – SGX-listed leading live-streaming platform, 17LIVE Group Limited (“17LIVE”, “the Company” or together with its subsidiaries, “the Group”) today announced the acquisition of mikai Inc. (“mikai”), a leading Japanese entertainment startup company that owns Re:AcT, a prominent VTuber production company. This strategic acquisition strengthens 17LIVE's virtual IP business, enhancing its platform with mikai's well-established virtual influencer portfolio.
With this acquisition, 17LIVE will accelerate its V-liver business by integrating mikai's strong brand and expanding its portfolio. The acquisition will also foster closer partnerships with existing V-livers, providing them with guidance to build unique identities that are crucial for the success of IP development. mikai will continue to focus on discovering and nurturing new VTubers, leveraging 17LIVE's live-streaming platform to amplify their visibility and engagement.
The expansion of the V-liver business is an integral driver under the 17LIVE Forward Strategy, which positioned the Group for long-term growth through platform enhancement, diversification of revenue streams, and strategic partnerships. With the addition of mikai, 17LIVE will be poised to capitalise on the growing global demand for virtual influencers and the thriving Japanese animation sector.
Mr. Jiang Honghui, Executive Director and CEO of 17LIVE, commented, "The acquisition of mikai is a key step in strengthening our Platform + IP model, which is a cornerstone of our 17LIVE Forward Strategy. By integrating mikai's leading VTuber assets into our platform, we are well-positioned to drive future growth and elevate 17LIVE into an IP-powered livestreaming entertainment platform. This strategic move aligns with our vision of diversifying our offerings, expanding our virtual IP business, and unlocking new revenue streams for long-term success."
DBS Bank Ltd. acted as the sole issue manager for the business combination of Vertex Technology Acquisition Corporation Ltd with 17LIVE Inc.
*1IP refers to intellectual property related to literary and artistic works, designs, and symbols, names and images used in commerce.
In 17LIVE, IP refers to the virtual characters and content titles created within the Group of companies.
Established in August 2016 by Mr. Takahiro Uemura, mikai gained early recognition with the release of a well-received Virtual Reality game and was selected for the Tokyo XR Startups program. In July 2018, mikai launched its VTuber business based on music and idol themes. Its VTuber agency, Re:AcT, currently features virtual artists such as Leona Shishigami, who boasts over 330,000 subscribers on YouTube, and Kyo Hanabasami, who has more than 320,000 subscribers. Through these artists, mikai creates diverse content and events that resonate with the increasing number of anime lovers globally.
Mr. Takahiro Uemura, CEO of mikai Inc., added, "It is an honour to join the 17LIVE Group. VTuber content is rapidly gaining traction alongside video games and anime films. With the growing global demand for anime and virtual content, joining 17LIVE is a pivotal step in unlocking further growth opportunities together. We look forward to realising our shared vision with the 17LIVE team and shaping the future of Virtual Entertainment.”
This acquisition is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the Group for the year ending 31 December 2024.
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