Color Star Technology Company, Ltd. has announced its engagement with a share exchange agreement to acquire Color China Entertainment Limited. The deal involves the purchase of Color Star of all outstanding issued shares of Color China. Upon completion, the acquisition would result in Color Star owning all of Color China.
Innovative education services provider Color Star Technology Company, Ltd. entered into an acquisition agreement with Color China. Formerly known as Huitao Technology Company, Ltd., the company would purchase all the outstanding issued shares of Color China. This would render the former as the owner of the entire entity.
Color Star would also issue to its shareholders 4.6 million ordinary shares of the company and pay and aggregate two million USD immediately upon closing. The closing of the acquisition is also subject to the waiver of all closing conditions in the agreement.
According to the chief executive officer of Color Star Yang Sean Liu, the deal would reinforce the company's path to success. He claimed that Color China owns performance specific assets and have experienced working with many renowned artists. He also claimed that the company is an emerging performance equipment and music education provider whose services would improve by engaging in collaborative efforts with Color Star.
He further discussed that combination of assets and management's relationships would also involve the development and maintenance of relationships with renowned artists. He added that the innovative online education resources provided through the agreement would take education to the next level.
Yang also manifested the intent of the company to pioneer an online educational curriculum that would be taught by famous artists. He believes that this method would make the efforts accessible and allow them to build a large and successful business by leveraging the assets of Color China.
On the other hand, the chief executive officer of Color China Muze Wu added that the agreement would develop an outstanding team at Color Star. He said that collaborative efforts would transform the music education industry. During the discussion of the acquisition, famous artists around the world allegedly saw the enthusiasm for the companies' shared vision in transforming online education.
Muze also manifested that the acquisition allowed the company to further the innovations of its methods with a Nasdaq listed company. He noted that the visionary leadership of Color Star would take online educations to higher levels and boost innovation in the education system.
Color China is a Hong Kong-based company that has a significant collection of performance-specific assets and has worked with many renowned artists in the music industry. On the other hand, Color Star Technology is a holding company that has dedicated itself as an education services provider. The latter offers both online and offline innovative education services.
