Liquid Media executes agreement to acquire Open Nuage for $858,750
Liquid Media Group announced that it has signed a definitive agreement to acquire a 100% interest in the cloud gaming platform Open Nuage. The company said, "Created by Throwback Entertainment, the platform makes playing and developing games in the cloud faster and easier. Open Nuage builds on Liquid's leadership in cloud technologies for the film and entertainment space and further diversifies the company's portfolio." The acquisition is expected to close within 60 days subject to satisfactory completion of due diligence by Liquid and other customary closing conditions. As consideration for the acquisition of Open Nuage, Liquid will pay total consideration of $858,750, payable in the form of common shares or cash at Liquid's discretion. If Throwback is able to meet certain performance milestones for downloads, it will also be eligible for an additional issuance of common shares of Liquid.