Live Current Media Inc. Completes the acquisition of augmented reality company Guru Experience Co.
SAN DIEGO, CA / ACCESSWIRE / NOVEMBER 24, 2022 / Current Live Media, Inc. (“Live Current”) (OTCQB: to decode) announces the completion of the acquisition of Guru Experience Company, Inc. (dba TheGuru.co) (“Teacher”) of San Diego in an all-share transaction.
Pursuant to the terms of the acquisition agreement, Live Current has agreed to issue 3 million restricted ordinary shares to Guru shareholders for all issued and outstanding shares of Guru. In addition to the stock exchange, the company has arranged to issue 1.25 million restricted ordinary shares to retain key management, and Guru’s current CEO, Susie Dergham, has agreed to a contractual arrangement to continue its efforts to build the Guru experience.
“I am happy that our agreement has been ratified and we can now focus on accelerating the growth of Guru,” said Ms. Dergham. “We have a great plan for 2023 and being part of Live Current will help us deliver on that plan.”
“Mr. Ollila said Guru’s revenue has been growing at double digits over the past two years, and we believe that with the additional expertise provided by Live Current, we can increase that growth in the years to come. “So far, Guru has only scratched the surface of the potential growth available in the market. It’s an exciting market when you think about the power of augmented reality and virtual reality to tell the stories that Guru’s customers will demand.”
Guru operates in the virtual reality market. The global virtual reality market is valued at US$28 billion and is expected to expand at a CAGR of 15% from 2022 to 2030 to reach US$87 billion in 2030.
Guru Experience Co offers museums and cultural sites a full suite digital experience platform.
Guru creates a bridge between cultural institutions and 21st century audiences. Museums have connected people to art and culture for centuries. Guru works with museum, zoo and aquarium partners to not only improve the visitor experience but also to provide digital strategies to meet the institutions’ educational and financial goals.
The company offers an easy-to-use platform that makes creating, sharing, updating, and maintaining digital experiences quick and easy. These include audio tours, augmented reality, wayfinding, geolocated content, interactive maps, games, scavenger hunts, ticketing, and queuing.
About Live Current Media Inc.
Live Current Media Inc. is a media technology company that operates the Kast Watch Party platform. Kast is a virtual living room where friends gather to watch movies, play games, and just be together. Kast sits at the intersection of the fast-growing markets of live events, social media, video streaming and gaming with its multi-channel watch party solution. The platform is available on the web, iOS and Android and offers a limited free subscription and an enhanced premium subscription with higher bandwidth and greater functionality.
On behalf of the Board of Directors of Live Current Media Inc.
Mark Ollila, CEO and Director
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All statements in this press release that are not historical facts are forward-looking statements, including any projections of growth, earnings, revenue, cash or other financial items, any statements about plans, strategies, goals and objectives of management for future operations, and any statements regarding circumstances or future economic performance, statements of belief and any assumptions based on any of the foregoing. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties include, but are not limited to, general economic conditions and particularly regarding demand for our products and services; competitive factors; changes in operating expenses; Our ability to raise capital when we need it and other factors. Live Current Media, Inc. is not liable. has no obligation to update these forward-looking statements to reflect future events or actual results and does not intend to do so.
source: Live Current Media Inc.
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