Grom Social Enterprises Set to Acquire Arctic7

Grom Social Enterprises has revealed plans to acquire Arctic7, a studio that will continue to operate under its current strategy, developing its own intellectual properties and co-developing projects, while becoming a division of Grom Social Enterprises. Although the terms of the deal have not been disclosed, the companies have stated that they will unveil more details about the opportunities arising from this acquisition in the near future. As an entertainment and tech company, Grom Social Enterprises also operates a social network aimed at children, known as Grom Social. The acquisition is expected to enhance the company's capabilities in the gaming and film & TV sectors. According to Igor Efremov, CEO of Arctic7, the partnership with Grom will enable the company to accelerate its growth strategy, focusing on full game development, co-development, transmedia, and virtual production, as well as expanding its team and industry relationships. Founded in 2022 by Efremov, Mark Rizzo, and Alan Van Slyke, Arctic7 has already made significant moves, including the acquisition of Star Fort Games and Narwhal Studios in March 2023, and the establishment of a Barcelona office.