Special purpose acquisition company Parsec Capital Acquisitions has acquired a majority interest in affiliate business Enteractive Media.
Financial terms of the deal were not disclosed, but it was revealed that Parsec is expected to change its name to GameChangerz Media Inc and reapply for a listing on the Nasdaq Capital Market in the near future.
Parsec also intends to acquire the remaining Enteractive shares currently held by minority stockholders, which will result in Enteractive becoming a wholly owned subsidiary of Parsec.
In connection with the acquisition Patricia Trompeter, Edmund Moy, William Readdy, Daniel Elwell and Alec Burger all resigned as directors of Enteractive and were replaced by Kelly Kellner and Terry Debono.
Kellner was also appointed as the new chief executive of Parsec, while Paul Haber remained as a director and chief financial officer of Parsec.
Enteractive is focused on the sports entertainment and gaming sectors, using a number of platforms to engage with viewers and monetise its super affiliate business model.
“The completion of the acquisition means we are now ready to move forward with our vision of creating a game changing media and gaming company that will create shareholder value through organic growth and strategic acquisitions,” Kellner said.