Le Lézard
Classified in: Science and technology, Business
Subjects: FNC, RCN

SWARMIO SUCCESSFULLY COMPLETES RESTRUCTURING AND SALE, ENTERING NEW GROWTH PHASE WITH STRONG INVESTMENT SUPPORT


TORONTO, Nov. 13, 2023 /CNW/ - On September 15, 2023, Triaxcess Ltd., a UK-based company, acquired all the shares of Swarmio Media Inc. and Swarmio Inc. ("Swarmio"). This marks the successful completion of its sale and Investment Solicitation Process, and effectively, concludes Swarmio's restructuring proceedings.

As a result of the transaction, Swarmio will transition to a private enterprise and where its prior public holding company, Swarmio Media Holdings Inc. (1283332 B.C. Ltd.) will be wound up.

Triaxcess Ltd. has made public its commitment to provide funding and advisory support, positioning the company for sustainable growth. Roy Haddad, a director of Triaxcess, declared: "Swarmio is uniquely poised to take advantage of the growth of the gaming industry. The innovative thinking of its talent pool, their ability to be a step ahead in providing the next generation application delivery for faster, safer and better connectivity, makes Swarmio a partner of choice to the telecom operators around the world."

Triaxcess has requested Mr. Vijai Karthigesu to remain as CEO of Swarmio Inc. who said: "I am thrilled by Triaxcess's vote of confidence. Their views of the future of the business is totally aligned with the management team of Swarmio. I am very happy that we kept the team together and to pursue the development and deployment of our leading-edge technology and gaming platform to continue to add value to our clients and our partners business."

About Swarmio:

Swarmio is a technology company that develops end to end gaming and e-sports platform powered by its patented Latency-optimized Edge Cloud (LEC) that reduces lag and offers gamers an optimized and rewarding gaming experience.

Swarmio Technologies boost end user engagement that creates unmatched competitive advantage for our partners. For our players, we democratize speed and promote competitive equality that unlock their winning spirit; and for our people we promote a winner's culture conducive to constant innovation and agile deployment.

SOURCE Swarmio Inc.


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