Benzinga | Sep 23, 2021 11:19AM EDT

Color Star Tech To Acquire Esports Company In China For Undisclosed Sum

* Color Star Technology Co Ltd (NASDAQ:CSCW) subsidiary, Color China, agreed to acquire Wuhan Chujing Esports Culture Communication Co., Ltd. for undisclosed financial terms.

* The two companies will collaborate in developing a global esports pan-entertainment sector combining their respective industry advantages.

* Chujing Esports integrates new platforms, traffic, culture and creativity, and ideas related to esports concepts.

* Color Star held $0.99 million in cash and equivalents as of June 30.

* Price Action: CSCW shares traded lower by 1.47% at $0.87 on the last check Thursday.