LONDON, Oct. 09, 2018 (GLOBE NEWSWIRE) — One Horizon Group (NASDAQ: OHGI) (“OHGI” or the “Company”) is pleased to report that it has entered into an agreement that grants the Company an eighty percent ownership interest in the software and source code and all other intellectual property underpinning the 123Wish experience marketplace platform (the “123Platform”).
“This will allow us to move towards completion of a number of business deals we have been working on for some time with well-known brands in the sports, travel, hospitality and family entertainment areas,” said Mark White, CEO and Founder of OHGI. “There is significant value in the 123Platform from our perspective and that is apparent from the interest level we have received from our intended licensees and brand partners and the revenue potential.”
In accordance with the terms of the transaction, the Company will grant a perpetual license in furtherance of the continuation of the 123Wish experience marketplace, which is majority-owned by OHGI, and has been growing in popularity; this past month 123Wish saw nearly 500%+ growth in important metrics including Sessions, Users, and Pageviews. 123Wish Management plans to augment its existing business by entering into revenue-share or other licensing agreements to make the 123Platform available to social media influencers and all forms of entertainment artists (music, television, movies, etc.). OHGI will focus on other opportunities to license the 123Platform as licensor or in conjunction with co-branded credit card and digital payment systems programs.