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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