On Wednesday, SportsQuest Inc. (OTC:SPQS) was in the news cycle after the company provided a key update about an impending merger. The company announced that its merger with Huaying Online Film Co., which had been in the works for a long time, was in the final stages. The company also noted that the merger was going to be a major milestone in its strategic growth plans.
Following the merger, Huaying Online Film would be brought under the SportsQuest umbrella and help the company further diversify its portfolio through a move into the fast-growing digital entertainment industry. In the news release, SportsQuest announced Huaying Online Film Co. Ltd., a newly established subsidiary unit, was on course to change the face of the online film industry.
It would do so through the deployment of leading-edge technology and innovative strategies. The subsidiary would be further strengthened through the resources and expertise of SportsQuest so that it could deliver unprecedented entertainment experiences to audiences spread all over the globe.
As per the provisions of the merger agreement, the corporate structure of Huaying Online Film Co., Ltd. was also finalized. Jinbao Wang would be the president of the unit, while Lirong Lai would be the secretary, Qianjin Qin would be the treasurer, and Yiyuan Cao would be the director. A spokesperson from SportsQuest spoke about the latest developments with regards to the merger.
The spokesperson stated that everyone at the company was thrilled at the fact that the merger had been finalized. The strategic partnership was a major new opportunity, through which SportsQuest sought to move into the artificial intelligence-powered film industry and deliver innovative entertainment offerings to a worldwide audience. The spokesperson also noted that Huaying Online Film Co. Ltd. also boasted a strong leadership team that would deliver growth.
