TCI Entertainment Acquires Gaming e-Commerce Platform, Stocket
DELRAY BEACH, Fla., May 11, 2021 /PRNewswire/ -- TCI Acquisition Company, Inc. (dba TCI Entertainment), a technology holding company focused on gaming and e-Commerce technology software, is excited to announce the acquisition of a patented e-Commerce gaming platform. The acquisition of assets from a Florida State Court Receivership, which was approved by the Court in Palm Beach County, Florida, was independently valued at $10,757,000 in a stock and cash transaction.
"The timing was perfect all the way around. TCI Entertainment was searching for a great investment opportunity and was introduced to the technology opportunity by the Court-Appointed Receiver, James D. Sallah. Through the hard work of all the legal teams involved throughout the entire process and including overcoming any COVID-19 delays, we finally were able to close the transaction," stated by Vince D'Antonio, Corporate Counsel.
The technology was awarded a patent by the United States Patent and Trademark office in 2019; The technology allows TCI Entertainment to simultaneously provide consumers and gamers an innovative and unique way to shop, game and earn income all within one entertainment ecosystem.
"Underneath the game's mechanics is a very powerful, user driven, platform.TCI Entertainment's game-commerce platform will not only make mobile shopping more entertaining but will have a big impact on how product data is disseminated and shared socially. We're excited to be in the conversation of changing the way consumers use mobile platforms to shop," says John Lepin, Interim Chief Financial Officer.
"I agree that timing could not be better," continues Lepin. Amid COVID-19, "mobile gaming activity has increased to an all-time high, and people more than ever are looking for additional channels to earn income and save on their purchases. TCI Entertainment's platform is that tool. Our patented mobile platform turns its players into virtual store owners capable of earning real income as well as saving on real purchases. Players can shop, sell, earn cash back, and compete to become brand leaders all within the games virtual environment."
"The mobile game industry is one of the highest performing industries globally in 2020. With a massive turnout of $77.2B in the just concluded year, there is no sign of slowing down in 2021" (https://www.businessofapps.com/insights/mobile-gaming-industry-statistics-and-trends-for-2021/).
This strategic acquisition of patented technology could allow TCI Entertainment to bridge the $150 billion gaming industry with the $10.3 trillion eCommerce industry, a market that is projected to be worth a combined $21 trillion by 2025.
TCI Entertainment's management and core development teams have broad experience in application development, as well as deep experience in e-Commerce and gaming. In addition, the team boasts extensive experience in electronic and mobile marketing for some of today's most successful technologies.
Headquartered in Delray Beach, FL, TCI Entertainment is a gaming and technology company focused on the strategic acquisition of high growth, disruptive mobile gaming, and mobile commerce companies. TCI Entertainment plans to finalize its first application of their platform for release in 2021.
For more information, please contact:
Name: Harold Erhard
Phone: 866-701-TCIE (8243)
Email: [email protected]
Website: https://tcientertainment.com/
Social Media:
https://www.facebook.com/tcientertainment.official
https://www.linkedin.com/company/tcientertainment/
https://www.instagram.com/tci.entertainment/
https://twitter.com/TCI_Entertain
SOURCE TCI Entertainment
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