SINGAPORE: mm2 Asia has moved in to acquire a majority stake in Millinillion, a tech start-up that develops interactive solutions for digital users.<\/p>\n
mm2 Asia will pick up 466,667 new shares in Millinillion for around S$350,000 ($248,000). It will then own a 70 percent stake. The acquisition marks mm2’s first step into the digital media and technology sector, following its acquisition of Vividthree Productions and cinema businesses from Cathay Cineplexes earlier this year.<\/p>\n
The group is planning to launch its own OTT platform next year, allowing users to watch short films and movies through mobile devices, tablets, laptops and smart TVs. The platform will also offer interactive features to enable mm2 to engage with a community of users for the development of movie ideas and marketing of its content.<\/p>\n
\u201cWe will continue to expand our content creation capabilities,\u201d said Melvin Ang, the CEO of mm2 Asia. \u201cWhile we have invested in the cinema business, which is a popular platform with moviegoers, we see potential in another market segment where content is directly delivered through digital channels in the near future. This includes devices such as mobile phones, tablets, personal computers and home screens.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
SINGAPORE: mm2 Asia has moved in to acquire a majority stake in Millinillion, a tech start-up that develops interactive solutions for digital users. mm2 Asia will pick up 466,667 new shares in Millinillion for around S$350,000 ($248,000). It will then own a 70 percent stake. The acquisition marks mm2’s first step into the digital media …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[128,82],"class_list":["post-3684","post","type-post","status-publish","format-standard","","category-top-stories","tag-mm2-asia","tag-ott"],"yoast_head":"\n