SGX-listed live streaming platform 17LIVE Group Limited has acquired Japanese entertainment startup group mikai for an undisclosed amount, according to a disclosure.
mikai, established in August 2016 by Takahiro Uemura, owns Re:AcT, a popular virtual talent production company focusing on virtual YouTubers.
Re:AcT currently features virtual artists such as Leona Shishigami, who boasts over 330,000 subscribers on YouTube, and Kyo Hanabasami, who has more than 320,000 subscribers.
“With the growing global demand for anime and virtual content, joining 17LIVE is a pivotal step in unlocking further growth opportunities together,” said mikai CEO Takahiro Uemura.
17LIVE said the acquisition strengthens its virtual IP business and enhances its platform with mikai’s virtual influencer portfolio. 17Live has a strong presence in Japan and Taiwan.
“The acquisition of mikai is a key step in strengthening our Platform + IP model, which is a cornerstone of our 17LIVE Forward Strategy,” said 17LIVE executive director and CEO Jian Honghui.
Early this month, 17LIVE announced its acquisition of N Craft Co Ltd, which specialises in developing and managing virtual talents and producing engaging content to connect with fans through live performances.
The acquisition also includes the “V-iii” brand, which focuses on nurturing new V-Liver talent and expanding its digital footprint.
Founded in Taiwan in 2015, 17LIVE connects users with creators who produce content in music, gaming, fashion, and other areas through personalized searches and recommendations.
17Live bypassed the traditional route to an initial public offering by combining with a special purpose acquisition company already listed on SGX and backed by Vertex Holdings, a venture capital unit of Singapore state investor Temasek — a first for the city-state’s bourse.
With Japan and Taiwan as its core markets, the platform has 550,000 monthly active users and more than 87,000 contracted livestreamers. The company moved its headquarters to Tokyo in 2021.
