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Author: Sam Boughedda
Investing.com – shares of SeaChange International Inc. (NASDAQ 🙂 was up 80% on Wednesday news He will partner with Triller Hold Co LLC, TrillerVerz, to make it public. Shares rose 40% at the time of writing.
Triller is a social networking video sharing service. However, he has also played in sporting events, such as boxing, under his Triller Fight Club motto, and music events under “Verzuz.” For example, Mike Tyson and Roy Jones Jr. the struggle between the legend was shown on the platform.
The proposed merger will bring the combined company’s value to about $ 5 trillion.
TrillerVerz told investors that AI is positioned to be a leading social media platform driven by AI. Upon completion of the agreement, SeaChange will change its name to “TrillerVerz Corp” from “SEAC” to “ILLR”.
The board of the two companies has approved a merger, which is expected to close in the first quarter of 2022. The combined company will be the CEO of Triller, Mahi de Silva, who will also be the Chairman of the Board.
De Silva explained: “We believe that combining with SeaChange will accelerate our advertising and marketing capabilities by expanding our reach to cable, satellite and OTT media. We believe that access to capital markets will help accelerate growth. “
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