Special purpose acquisition company Parsec Capital Acquisitions has acquired a majority stake in Canadian affiliate business Enteractive Media and plans to rebrand as GameChangerz Media.
Parsec also intends to acquire the remaining Enteractive Media shares from minority shareholders, making Enteractive Media a wholly-owned subsidiary of Parsec.
Enteractive Media was established in 2013 and has offices in Toronto and Calgary. Its wholly owned subsidiary PlayerVision provides consumers with gambling-themed television broadcasts and on-demand video, as well as live streamed video sports wagering content.Previously, Enteractive Media had planned to list on Nasdaq through a merger with Parsec and operate under the name Enteractive Media Inc with a new ticker symbol.
However, the new acquisition supersedes that plan.
Now, Parsec has plans to change its name to GameChangerz Media Inc in the near future and reapply for a Nasdaq listing.
GameChangerz Media already describes itself as the parent company to a variety of businesses and platforms supporting the gaming, gambling, and entertainment industries.
It has content creation studios in Calgary, Toronto, Atlantic City, Las Vegas, Buenos Aires, London, Johannesburg and Macau.Parsec CEO Kelly Kellner: “The completion of the acquisition means we are now ready to move forward with our vision of creating a game-changing media and gaming company that will create shareholder value through organic growth and strategic acquisitions.”
Once Parsec’s name change is approved, Enteractive Media will therefore become a part of GameChangerz Media.
Following the acquisition of Enteractive Media, several of Parsec’s directors and officers resigned, to be replaced as directors by Enteractive CEO Kelly Kellner, and partner at The Debono Group Terry Debono.Kellner has also been appointed as the new CEO of Parsec, while Paul Haber remains a director of Parsec and the company’s CFO.
“The completion of the acquisition means we are now ready to move forward with our vision of creating a game-changing media and gaming company that will create shareholder value through organic growth and strategic acquisitions,” Kellner said.
The company will outline its international corporate strategy, management team, future growth and acquisition plans, and a potential timeline for an exchange listing in due course.