Goodwill Entertainment Proposes SGD 4 Million Acquisition of 100% Stake in Funtech Solutions to Expand Entertainment Technology Business

NewTimeSpace News: On 7 June 2026, Goodwill Entertainment announced its proposal to acquire 100% equity interest in Funtech Solutions at a total consideration of SGD 4 million.

The payment will be structured as follows: SGD 650,000 in cash to be paid upon completion, deferred cash of SGD 350,000 payable after the settlement of litigation, as well as 20 million consideration shares issued at SGD 0.15 per share, valued at SGD 3 million. The vendor has undertaken a six-month lock-up period for the consideration shares.

According to the announcement, Funtech is mainly engaged in the development and installation of audio and video systems for entertainment venues. It is one of only eight commercial karaoke providers accredited by Music Rights Singapore. Goodwill Entertainment stated that the acquisition will help improve operational efficiency and diversify revenue streams.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.