PANews reported on March 19 that, according to Globenewswire, Nasdaq-listed AlphaTON Capital, a TON treasury firm, announced it has reached a definitive agreement to acquire a 60% controlling stake in gaming platform GAMEE for up to $11 million, including a two-year, performance-linked additional payment.

GAMEE is a wholly owned subsidiary of Animoca Brands, and its valuation in this transaction reached $18 million. According to the terms of the acquisition agreement, AlphaTON Capital will take over the day-to-day operations and management of GAMEE and formally establish a strategic alliance with Animoca Brands. At the same time, Animoca Brands is prohibited from acquiring a controlling stake in AlphaTON Capital within two years.