Winking Studios (SGX:WKS) entered into a conditional acquisition of Shanghai Mineloader Digital Technology for a consideration of about 146 million yuan, according to a filing with the Singapore Exchange on Friday.
As part of the proposed agreement, the company will make an upfront payment of around 131.4 million yuan with the remaining balance to be paid upon the fifth anniversary following completion of the acquisition.
Mineloader Digital Technology is a China-based game art outsourcing and development studio.
Shares of Winking Studios surged rose nearly 7% in recent trading.
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