AcquisitionsAug 5, 2026, 04:23 PM
Paranovus Acquires Heyviva Athletic Wear Business for $33M
AI Summary
Paranovus Entertainment Technology Ltd. has completed the acquisition of the 'Heyviva' athletic wear business and brand from Jabanero Inc. for $33 million in cash. The acquisition, finalized on August 5, 2026, includes intellectual property, domain names, social media accounts, inventory, and customer data. The company anticipates that this transaction will generate significant synergies with its existing social commerce capabilities and contribute to sustainable long-term growth.
Key Highlights
- Paranovus Entertainment Technology Ltd. acquired the 'Heyviva' athletic wear business from Jabanero Inc.
- The total purchase price for the assets is $33,000,000 in cash.
- The acquisition includes intellectual property, domain names, social media, inventory, customer data, and contracts.
- The EU/UK trademarks for Heyviva are retained by Jabanero, with Paranovus having a seven-year right of first refusal.
- The transaction closed on August 5, 2026.
- The company expects the acquisition to create synergies and enhance long-term growth.
Price Impact
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