SGX-listed live-streaming platform 17LIVE Group Limited has announced the acquisition of 100% of the outstanding shares of N Craft Co., Ltd (N Craft).
The strategic move aims to enhance 17LIVE’s V-Liver business segment by integrating production and talent development capabilities within the Group, according to the company’s statement on Monday.
N Craft specializes in developing and managing virtual talents and producing engaging content to connect with fans through live performances and interactive experiences. The acquisition also includes the “V-iii” brand, which focuses on nurturing new V-Liver talent and expanding its digital footprint.
This acquisition aligns with the company’s “17LIVE Forward Strategy,” which aims to reinforce the platform, diversify revenue streams, and form strategic partnerships to accelerate growth.
The global anime market, valued at approximately $31.23 billion in 2023, is projected to grow at a CAGR of 9.8%, with Japan contributing over 40% of global revenue. Within this industry, the V-Tuber market—a key component of the V-Liver segment—is valued at around $500 million and is rapidly expanding.
By strengthening its foothold in the burgeoning virtual content sector, 17LIVE aims to capitalize on Japan’s rich anime culture and the rising demand for virtual entertainment.
With the integration of N Craft’s expertise and its team, 17LIVE plans to effectively manage its current V-Liver business and transition approximately 140 V-Livers into the Group.
This acquisition is anticipated to have no material impact on the consolidated net tangible assets per share and earnings per share of the Group for the fiscal year ending December 31, 2024.
Founded in Taiwan in 2015, 17LIVE connects users with creators who produce content in music, gaming, fashion, and other areas through personalized searches and recommendations.
In October last year, Singapore’s Vertex Technology Acquisition Corp (VTAC), a SPAC backed by state investor Temasek, announced plans to acquire 17LIVE for up to S$925.1 million (approximately $676 million).
This deal was the first instance of a private company being acquired by a SPAC listed in Singapore since 2021 when the Singapore Exchange began permitting SPACs to list shares as part of positioning itself as a hub for such investment vehicles in Asia.