SMC Entertainment Expands into Asia with Bateau Acquisition
Deal News | Jan 08, 2025 | Globenewswire
SMC Entertainment, Inc., a Fintech incubator company based in Boca Raton, Florida, has announced the completion of its acquisition of Bateau Asset Management. Bateau, an Australia-based boutique investment manager focusing on absolute-return strategies, provides SMC with a platform to enter the lucrative Southeast Asian financial services market. The deal involved the exchange of 14 million Series C Preferred Stock shares and $2 million in convertible promissory notes. This strategic acquisition aligns with SMC's approach of enhancing revenue and shareholder equity through multi-discipline growth by acquisition.
Sectors
- Financial Services
- Fintech
Geography
- Australia – Bateau Asset Management is based in Australia, making it a significant geography for this acquisition.
- Southeast Asia – The acquisition provides SMC with an initial market presence in Southeast Asia, indicating it as a key geographic focus.
- United States – SMC Entertainment is headquartered in Boca Raton, Florida, United States.
Industry
- Financial Services – The article discusses the acquisition of an investment management firm, which is a key component of the financial services industry.
- Fintech – SMC Entertainment is described as a fintech incubator company, focusing on acquiring technology companies within financial services.
Financials
- 14,000,000 shares – Series C Preferred Stock issued by SMC Entertainment as part of the acquisition payment.
- $2,000,000 – Value of convertible promissory notes issued as part of the acquisition deal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SMC Entertainment, Inc. | Acquiring Company | Company | A fintech incubator focused on acquiring and supporting commercialized financial services and tech companies. |
| Bateau Asset Management | Target Company | Company | A boutique investment manager based in Australia focused on absolute-return investment strategies. |