Grom Social Enterprises enters Letter of Intent to acquire Arctic7

Arctic7, which provides a suite of full game and co-development services together with own intellectual property development within gaming, and virtual production services for the movie and TV industry, has announced it has agreed to be acquired by Grom Social Enterprises. Grom CEO Darren Marks said: “Grom welcomes the opportunity to bring Arctic7 into the Grom portfolio to further fuel Arctic7’s vision of offering both gaming and virtual production capabilities, while together, we explore integrating Arctic7’s expertise into our expanding entertainment ecosystem. Content collaboration, cross-promotional opportunities, product licensing, brand partnerships, merchandising, interactive experiences, educational gaming initiatives, and much more are at the heart of this partnership.” “Upon completion of the acquisition, Arctic7 will operate as a division within Grom and will continue to execute against its current strategy of delivering exciting and engaging experiences for players and partners. In the coming weeks and months, Grom and Arctic7 intend to explore partnership opportunities and titles presented by the Grom acquisition,” Arctic7 stated.