One Horizon Group Inc (NASDAQ: OHGI) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced the acquisition of intellectual property, exciting investors and sending the stock screaming for the top. Today, we’ll talk about:
- The IP acquisition;
- what we’re seeing from OHGI stock as a result; and
- what we’ll be watching for ahead.
OHGI Announces IP Acquisition
As mentioned above, One Horizon Group is having an incredibly strong start to the trading session this morning after the company announced the acquisition of intellectual property. In a press release issued early this morning, the company announced that it has entered into an agreement that will give it 80% ownership of the software, source code, and all other intellectual property associated with 123Wish.
According to the terms of the agreement, OHGI will grant a perpetual license in furtherance of the continuation of the 123Wish experience marketplace, which is majority owned by the company. The platform is growing in popularity, experiencing nearly 500% growth in sessions, users and pageviews in recent times. In a statement, Mark White, CEO and founder at OHGI, had the following to offer:
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… 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.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of One Horizon Group, the news proved to be overwhelmingly positive. After all, the company is taking ownership of a platform that is quickly growing in popularity and will likely generate meaningful revenue. So, it comes as no surprise that excited investors are sending the stock screaming for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:13), OHGI is trading at $0.30 per share after a gain of $0.062 per share or 26.19% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on OHGI. In particular, we’re interested in following the story surrounding the company’s work with regard to the 123Wish platform and the revenue generated through this new asset. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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