Benzinga | Feb 23, 2021 08:30AM EST

Vinco Ventures Merger Partner ZASH To Acquire Majority Interest In Video-Sharing App Lomotif

BETHLEHEM, Pa. and SINGAPORE, Feb. 23, 2021 /CNW/ -- Vinco Ventures, Inc. (NASDAQ:BBIG) -- ZASH Global Media and Entertainment Corporation ("ZASH"), the entertainment industry disrupter led by co-founders Ted Farnsworth, financier and former MoviePass Chairman, early Musical.ly (now TikTok) investor Jaeson Ma, and early Triller visionary and board member, Vincent Butta, has entered into a definitive agreement to acquire a majority controlling interest in Lomotif Private Limited ("Lomotif"), the Singapore-based top video-sharing social networking platform and budding rival to TikTok, and Kuaishou (1024.HK on the Hong Kong Stock Exchange). The closing of the Lomotif acquisition by ZASH is scheduled to occur concurrently with the closing of ZASH's merger and business combination with Vinco Ventures, Inc. ("Vinco"), which was previously announced in a joint press release in January 2021. The closing of the Lomotif acquisition is subject to certain customary conditions to closing as described in the definitive acquisition agreement.