- Company has operations in Munich, Los Angeles, New York, London and Paris -
IRVINE, CA, Nov. 29, 2016 /PRNewswire/ - Emaji, Inc. (OTC: EMJI) ("Emaji" or the "Company") today announced the acquisition of 86.6 percent of the outstanding shares of Framepool AG (www.framepool.com), a leading distributor of stock footage with headquarters in Munich, Germany, and the Company's entrance into the $2.5 billion stock footage and photography marketplace.
Framepool collects, selects and prepares high quality video footage from TV, movie or commercial film producers and sells licenses to its growing library of over one million clips, one of the world's largest, to its 3,500 active customers, among them the most prominent advertising agencies, broadcasters, film studios and production companies. It also provides rights clearance and indemnification services, has commenced providing production services for footage intensive documentaries and is moving into the licensing of stock photography.
Framepool has three operating subsidiaries in the United States, the United Kingdom and France and a headcount of 19 full‐time and 8 part‐time employees. In addition to Munich, Framepool has staff in Los Angeles, New York, London and Paris. The company's online presence ranks in the top 60,000 websites worldwide and has nearly a million monthly page views.
Emaji will consolidate Framepool's financials from the fourth quarter of 2016.
The acquisition was financed through a combination of cash and non-convertible debt. As part of the transaction, Emaji has committed to providing significant additional capital to Framepool going forward. This acquisition represents the initial step towards the execution of a global growth strategy. Additional steps are currently in negotiation.
Emaji had previously released that it is currently seeking approval from Finra to complete its intended name and symbol change. The Company anticipates completing this process in December 2016.
About Emaji, Inc.:
Emaji, Inc. (OTC: EMJI), based in Irvine, California, is a publicly traded development stage company with two divisions: Entertainment, and Ventures.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at http://www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
SOURCE Emaji, Inc.