Color Star Tech To Acquire Esports Company In China For Undisclosed Sum

Color Star Technology Co Ltd CSCW subsidiary, Color China, agreed to acquire Wuhan Chujing Esports Culture Communication Co., Ltd. for undisclosed financial terms.
The two companies will collaborate in developing a global esports pan-entertainment sector combining their respective industry advantages.
Chujing Esports integrates new platforms, traffic, culture and creativity, and ideas related to esports concepts.
Color Star held $0.99 million in cash and equivalents as of June 30.
Price Action: CSCW shares traded lower by 1.47% at $0.87 on the last check Thursday.