TORONTO, ONTARIO--(Marketwired - Nov. 20, 2017) - Kuuhubb Inc. ("Kuuhubb" or the "Company") (TSX VENTURE:KUU) announces that it has signed a term sheet to acquire Neybers, an interior design game where users can play with photo quality items from real brands. Neybers fits well with Kuuhubb's strategy of building a portfolio of female oriented niche lifestyle community and design applications. Neybers has a strong focus on esthetics and female user base with a 22 minute play session average - attributes that dovetail well with Kuuhubb's flagship app Recolor, the leading digital coloring app in the world.
Kuuhubb intends to revamp Neybers comprehensively, adding strong new gameplay and social elements, as well as support from a wide range of relevant brands. Kuuhubb's focus on improving monetization of already promising properties has been evident in Recolor and My Hospital, each of which has improved revenue generation robustly over the past 3 months.
The Neybers renovation program will be led by Joel Roos in close co-operation with the Kuuhubb management team. Kuuhubb has also retained Michail Katkoff as an advisor to the team. Mr. Roos, founder of OneNordic and EVP of Hem.com, possesses more than a decade of experience in the interior design industry, particularly the digital aspects of it. He will be leading the important new brand partnership drive of Neybers. Mr. Katkoff is one of the world's leading experts in mobile app monetization, having had key positions at Supercell, Zynga and Rovio. Mr. Katkoff will be assisting in redesigning the core monetization loops of Neybers, leveraging some of the most important recent trends in the rapidly growing design app industry.
"Merging my knowhow and background within the interior industry with Kuuhubb's expertise and network within the gaming industry, will I believe enable us together to develop Neybers into an extraordinary experience for the interior interested. There are many millions of people out there still looking for that perfect and realistic game about interior decorating to enjoy, which is what we aim to build," commented Joel Roos.
"The mobile application market is rapidly shifting towards subscription based applications," points out Kuuhubb co-founder Christian Kolster. "This month, the top 3 positions on the US iPhone revenue chart were taken over by subscription apps - a year ago, the top 3 revenue generators were all war games. We believe design and art applications will be the growth motor of the global application industry for years to come. We expect the synergies between Recolor and the reincarnation of Neybers to be considerable."
"The Neybers acquisition is an example of Kuuhubb executing our roadmap of creating a portfolio of female focused lifestyle communities, which will benefit from the global distribution and unique Asia market entry channels. Kuuhubb intends to continue to identify, acquire and grow under-valued assets with global potential," said Kuuhubb's CEO Jouni Keränen.
Closing of the Neybers acquisition is subject to the execution of the definitive documentation in respect of such acquisition, which is expected to be completed before the end of this month.
Kuuhubb is a company active in the digital space that focuses mainly on lifestyle and mobile video game applications. Its strategy is to create sustainable shareholder value through acquisitions of proven, yet underappreciated, assets with robust long-term growth potential. Headquartered in Helsinki, Finland, Kuuhubb has a global presence with a strong focus on developing U.S. brand collaborations and Asian partnerships.
Cautionary Note Concerning Forward-Looking Information
This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the closing of the proposed Neybers acquisition, the development and growth plans for Neybers, growth of the Company's business and expected benefits from the proposed acquisition of Neybers) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to execute the definitive documentation in respect of, or complete, the proposed acquisition of Neybers, risks related to the growth strategy of the Company, the possibility that results from the proposed acquisition of Neybers will not be consistent with the Company's expectations, the early stage of the Company's development, competition from companies in a number of industries, the ability of the Company to manage expansion, future business development of the Company and the other risks disclosed under the heading "Risk Factors" in the Company's annual information form dated October 30, 2017 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.