AcquisitionsOct 13, 2026, 09:21 AM
Skillful Craftsman to Acquire 70% of URAY PTE. LTD. for Shares and Loans
AI Summary
Skillful Craftsman Education Technology Ltd announced its definitive agreement to acquire a 70% controlling interest in URAY PTE. LTD., a Singapore-based casual game developer and publisher. URAY will become a consolidated subsidiary of Skillful Craftsman upon closing. The consideration includes 500,000 restricted ordinary shares of Skillful Craftsman and up to US$2 million in shareholder loans. The acquisition is expected to expand Skillful Craftsman's AI applications into interactive digital content and game creation, leveraging URAY's decade-long experience in the casual games market and its AI toolset, SMILE AI. The transaction is anticipated to close in the fourth quarter of 2026.
Key Highlights
- Skillful Craftsman Education Technology Ltd to acquire 70% of URAY PTE. LTD. for 500,000 restricted ordinary shares.
- URAY will become a consolidated subsidiary of Skillful Craftsman upon closing.
- The Company will provide URAY with unsecured shareholder loans of up to US$2 million.
- URAY's management and employees are eligible for a performance earn-out and special share plan pool of 2,500,000 Ordinary Shares.
- URAY has over ten years of experience in developing and operating casual games for international markets, releasing over 1,000 games.
- The acquisition aims to combine AI technology with game creation and global publishing.
Price Impact
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