Blue
Hat Interactive Entertainment Technology (NASDAQ: BHAT), a producer,
developer and operator of augmented reality (“AR”) interactive entertainment
games, toys and educational materials in China, today announced its entry into
a non-binding letter of intent (“LOI”) to acquire a controlling equity interest
in Fuzhou Csfctech Co., Ltd. (“Csfctech”), a developer and distributor of
mobile games in China, subject to customary conditions. Per the update,
Csfctech’s international user base spans across Mainland China, Japan, Taiwan,
the United Arab Emirates and Africa. Blue Hat expects the proposed transaction
to strengthen its product offerings through integration of Csfctech’s research
and development capabilities and strong gaming operations and distribution
platforms. “Blue Hat is excited by this potential opportunity to enhance our
revenue base and marketing capabilities and add new product lines,” BHAT Chief
Executive Officer Xiaodong Chen said in the news release. “The proposed
acquisition reflects our strategy to enrich our interactive entertainment
product portfolio following our listing on The Nasdaq Capital Market in July
2019. We look forward to pursuing further growth opportunities in the near
future, both organically and through strategic investments.”
To view the full press release, visit http://ibn.fm/YFshz
About Blue Hat
Blue Hat Interactive Entertainment Technology is a producer,
developer and operator of AR interactive entertainment games and toys in China,
including interactive educational materials, mobile games, and toys with mobile
game features. The company’s interactive entertainment platform creates unique
user experiences by connecting physical items to mobile devices, which creates
a rich visual and interactive environment for users through the integration of
real objects and virtual scenery. Distinguished by its own proprietary
technology, Blue Hat aims to create an engaging, interactive and immersive
community for its users. For more information, visit the company’s website
at www.BlueHatGroup.net.
NOTE TO INVESTORS: The latest news and updates
relating to BHAT are available in the company’s newsroom at http://ibn.fm/BHAT
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