GCL Global (GCL) said Thursday it has signed a non-binding agreement to acquire up to a 51% stake in Madeviral, a Singapore-based game marketing agency.

Financial details weren't disclosed.

Both companies agreed to a 60-day exclusivity period to complete due diligence and negotiate definitive agreements, with the closing of the deal subject to regulatory and board approvals, GCL said.

Madeviral's leadership team will stay in place following the acquisition, GCL said.

Shares of GCL were up more than 4% in recent Thursday trading.

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