Y Ventures' (SGX:1F1) subsidiary, Y Ventures Lab, agreed with Carter Schuurmans to acquire assets comprising Sumazon, an online education platform, according to a Thursday filing with the Singapore Exchange.
The two parties have agreed on a cash consideration of $90,000, payable in three tranches.
The acquisition allows the group to enhance its tech portfolio and diversify into new digital revenue streams.
Shares of the company surged nearly 13% in early Thursday trading.
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