LONDON (Alliance News) - Asia-focused digital sector investor Sealand Capital Galaxy Ltd said on Friday it will continue to work with Hong Kong-listed internet giant Tencent Holdings Ltd through three new initiatives.
The first is to acquire a majority stake in digital marketing and advertising business New Sky Global, which will be get a licensing agreement with Tencent.
Under the agreement, New Sky Global will offer marketing and advertising campaigns to overseas merchant by using Tencent's advertising channels and other platforms.
The acquisition of the stake is subject to a final contract being signed.
The second agreement is to create a new subsidiary company, to manage Tencent's annual Tencent Animation Comics Game Carnival, an event expected to be held in 13 different regions in China between May and September.
The new company will be the exclusive organiser, taking responsibility for all logistics, selling sponsorships, advertising and developing brand partners.
The third agreement will see Sealand form a joint venture in which the company will have a majority stake, to acquire the licence of Tencent Car, category in online portal QQ.com, which is owned by Tencent itself.
"Sealand is at a significant inflection point in its development. These three important new strategic initiatives will transform our business and fit well with our existing ePurse and Rightyoo business activities. Our ambition is to become Tencent's overseas trusted partner and offering merchants more effective digital marketing campaigns across a number of different medias," said Executive Chair Nelson Law.
Shares in Sealand Capital were untraded on Friday, last quoted at 2.80 pence.
Sealand Cap (SCGL)