GROM - Why Grom Social Stock Is Climbing Today | Benzinga
Grom Social Enterprises Inc. (NASDAQ:GROM) shares are trading higher Thursday after the company announced that it entered into a non-binding letter of intent to acquire gaming industry service provider, Arctic7.
The Details:
Grom did not disclose the terms of the agreement and said it sees the acquisition as a possible entry into the gaming industry.
“The global gaming market represents a $185 billion market opportunity that continues to grow and innovate as represented by Disney’s recent $1.5 billion investment in Epic Games which underscores the opportunity for content-gaming partnerships to deepen the overall consumer connection in their entertainment experiences,” said Grom’s CEO, Darren Marks.
"Grom welcomes the opportunity to bring Arctic7 into the Grom portfolio not only to further fuel Arctic7’s ...