Vertex Technology Acquisition Corp (VTAC) is a Singaporean company that was established to acquire and list businesses on the stock market using the SPAC method. Their latest announcement involves the acquisition of 17LIVE, a popular live-streaming platform in Japan and Taiwan. The deal is estimated to be valued between $925.1 million to $1,161.1 million SGD, which translates to approximately $730 million to $846 million USD.
Once the acquisition process is completed, 17LIVE will be listed on the Singapore stock market. Known for its high revenue share in Japan (20.8%) and Taiwan (26.9%), 17LIVE is a live-streaming platform that has gained significant popularity. The company also has a strong presence in various Asian countries, such as Singapore, the Philippines, India, and Malaysia. With projected revenue of $363.7 million USD in 2022 and positive EBITDA since 2020, amounting to $15.8 million USD, 17LIVE has shown promising growth in recent years.
In conclusion, Vertex Technology Acquisition Corp (VTAC) has made a strategic move with the acquisition of 17LIVE, a prominent live-streaming platform in Japan and Taiwan. This deal not only expands VTAC’s portfolio but also presents an opportunity for 17LIVE to further capitalize on its success in the Asian market.
TLDR:
Singapore-based Vertex Technology Acquisition Corp (VTAC) plans to acquire 17LIVE, a popular live-streaming platform in Japan and Taiwan, through a SPAC deal. The acquisition is valued between $925.1 million to $1,161.1 million SGD ($730 million to $846 million USD). 17LIVE has a significant market share in Japan and Taiwan and operates in several Asian countries. The company is projected to generate $363.7 million USD in revenue in 2022 and has maintained positive EBITDA since 2020.
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