KUALA LUMPUR (Jan 16): Digital marketing and media services group mTouche Technology Bhd has paid US$5 million (RM20.56 million) in exchange for rights to sell special edition books in Asia Pacific countries, under a sports memorabilia collection brand called the Iconic Global Sports Collection.
In a bourse filing today, mTouche said its wholly-owned unit mTouche (HK) Ltd has inked an exclusive distribution rights agreement with Australian firm TIG Asia Pty Ltd, which itself was previously appointed as having worldwide marketing rights for the products.
Iconic Global Sports Collection is a product collection by Iconic Treasues Pty Ltd.
The books come in forms of hard covers, digital interactive applications, as well as electronic versions for “Iconic Treasures Soccer, Australian Football League & Motor Vehicle Historical Collection Contents”, mTouche said.
The exclusive rights are for an eight-year period, during which TIG and mTouche can amend its terms and conditions after the second and fifth year, it said.
The exclusive rights are non-transferrable, the filing added.
Under the deal, it will also have the rights to alter, adapt and translate the products, and “will have the final say in all matters relating to the development and exploitation of the products, and all allied and ancillary rights in connection with the products”.
mTouche shares traded unchanged at eight sen today, giving it a market capitalisation of RM40.69 million.
source: The Edge Market