EQS Group-Ad-hoc: Highlight Event and Entertainment AG / Key word(s): Miscellaneous
Highlight Event & Entertainment AG and The Native SA, Lausanne-based integrated e-commerce services company, has entered into a strategic partnership in the form of a long term production agreement to develop new formats of virtual reality, e-commerce and online auctions in the sports and entertainment space.
Under the new agreement, The Native SA and its core affiliates, Lausanne based subsidiary Blockchain Lab SA, Karlsruhe based e-commerce services subsidiary Asknet AG (www.asknet.de) and New York based online auctions affiliate P8H Inc (Paddle8, www.paddle8.com), agreed to provide Highlight Event & Entertainment AG and its portfolio companies with a number of innovative digital product development and services aimed to accelerate migration of some of the key clients and products of Highlight Event & Entertainment AG to digital formats and make them more appealing to millennial and younger customer base.
This production contract is to be fulfilled in different stages, with the first stage to include delivery of certain pilot digital entertainment episodes and content for a total value being in the range of CHF 1-2 million and payable by Highlight Event & Entertainment AG based on certain performance milestones, with this work to be completed within the next 12 months.
The Native SA had been servicing one of the key clients of Highlight Event & Entertainment AG, European Broadcasting Union, since 2017 under the 10-years license to operate The Eurovision Fan House (https://eurovisionfanhouse.com/). Highlight Event & Entertainment AG is a minority equity shareholder in The Native SA with slightly under 20% ownership interest in the company.
"We are delighted to expand our long-standing relationship with Highlight Event & Entertainment AG to the areas from celebrity auctions to virtual reality e-commerce offerings and are looking forward to become the vital digital business partner to the group", commented Izabela Depczyk, the Chief Executive Officer of The Native SA.
"The partnership with The Native is one of many new exciting digital initiatives rolled out by Highlight Event & Entertainment AG, and we are looking forward to gradually expand this cooperation to the new e-commerce and entertainment formats", commented Mr. Bernhard Burgener, the President of Highlight Event & Entertainment AG.
ABOUT HIGHLIGHT EVENT & ENTERTAINMENT AG
ABOUT THE NATIVE SA
End of ad hoc announcement
|Company:||Highlight Event and Entertainment AG|
|Phone:||+41 41 226 05 97|
|Fax:||+41 41 226 05 98|
|Listed:||SIX Swiss Exchange|
|End of Announcement||EQS Group News Service|
683195 07-May-2018 CET/CEST