Acquisition to support accelerated growth in North America
NEW YORK, Oct. 01, 2020 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTCQB: ABQQ), an intellectual property (IP) and movie investment and licensing firm, is pleased to announce it has entered into a Letter of Intent (LOI) to acquire MusicPromoToday, subject to due diligence and a definitive agreement with closing conditions, with expected completion before year-end.
Seeing the importance of online visibility and the role social media would play in the careers of artists, MusicPromoToday (www.musicpromotoday.com) began by connecting with independent artists and recognized Grammy nominated artists to promote the artists’ videos and social links. This opportunity led to independent artists, record labels, and partnerships with industry leaders and more recognized artists.
Today, the agency is one of the most efficient music marketing and promotion agencies in North America with over a decade of experience. MusicPromoToday builds promotional campaigns for artists and labels to grow their audience, engage with their fans, and reach new milestones. The company goes beyond digital marketing and fuels every fully customized marketing strategy with insights and data that bring precise and measurable results. The agency serves artists, labels, and the brands that support them in going viral, building a loyal fanbase, and having their message heard all around the world.
MusicPromoToday was awarded the prestigious ‘Agency Of The Year, Creative Agency’ by Manhattan Awards in 2017 and 2018. The company has office locations in New York, Los Angeles and Montreal, Canada.
Chiyuan Deng, Chief Executive Officer of AB International Group, stated, “We are pleased to announce this transformative acquisition, which we expect will add broad capabilities to our operations and technology platforms. MusicPromoToday has established itself as a true leader in the social media space by supporting artists and creative minds. This acquisition, if consummated, marks a major milestone for our company and builds on our recent progress. We believe that MusicPromoToday’s intellectual property is highly complementary to our technology and the combined companies will work to advance a robust commercial and development product portfolio.”
About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged to acquisition and distribution of movies. The Company has a Patent License to a video synthesis and release system for mobile communications equipment, in which the technology is the subject of a utility model patent in the People's Republic of China. The Company engages highly anticipated video streaming service targeting global multi-billion dollar and growing video streaming industry. The online service will be marketed and distributed in the world under the brand name ABQQ.tv. ABQQ.tv (www.abqq.tv) is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model.
For additional information visit www.abqqs.com
This press release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company's management team and statements relating to the Company's transformation, financial and operational performance including the acceleration of revenue and margins, and the Company's overall strategy. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Groups markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.
Details regarding the terms of the acquisition have not been released as of the release of this press release.
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