Game

Six to Start, World’s Leading Gambling Fitness Company, Acquired by Australia-listed OliveX for US$9.5 million


  • Six to Start is being acquired by digital health and fitness company OliveX Holdings Ltd.
  • UK-based Six to Start is an expert developer and content creator of health and fitness game-like stories.
  • Six to Start owns Zombies, Run! smartphone experience and is the world’s best-selling gambling exercise app, with over 8.5 million downloads.

London, UK – March 8, 2021. British company Six to Start Limited (Six to Start) is pleased to announce that it is being acquired by OliveX Holdings Limited (NSX: OLX) digital health and fitness company. OliveX will repurchase 100% of the issued shares of Six to Start with an initial cash and stock weighting equivalent of $6,650,000 and deferred consideration, based on cash and stock performance. coupons up to $2,850,000.

Six to Start is an award-winning UK-based game developer and fitness technology company that creates audio stories on smartphones and engaging and motivating gameplay experiences. push includes Zombies, Run!, The Walk and Zombies, Run! 5k.

Zombies, run!  image

Zombies, run! image

Zombies, run! is the world’s leading gambling health and fitness app with an average of 300,000 active users per month, approximately 50,000 paid subscription users, and a digital fitness platform with augmented reality capabilities. recognized as best in class. Award-winning novelist Naomi Alderman is the lead author of Zombies, Run!

Six to Start’s gaming assets include intellectual property, content creation and distribution channels that are strategically important to OliveX as it continues to commercialize the KARA smart fitness mirror – a mirror. interactive updates of live and on-demand workout classes.

As part of the acquisition, Adrian Hon, CEO and founder of Six to Start, will become Chief Innovation Officer at OliveX while continuing to serve as Six to Start’s CEO, promoting further the development of the company and the implementation of the corporate innovation strategy.

Adrian Hon, CEO, Six to Start said: “Six to Start has built a strong business model and a huge subscriber base of loyal users for our apps including Zombies, Run! and our growth strategy is perfectly aligned with OliveX. We have both created innovative, game-changing technology that, when combined, will truly advance the future of digital fitness.

The OliveX suite of products and solutions is truly world leading. I’m super excited to be joining OliveX as the Chief Innovation Officer and I’m really looking forward to what lies ahead. ”

Regarding the acquisition, Keith Rumjahn, CEO, Hong Kong-based OliveX said:

“At OliveX, we’re passionate about making exercise fun, and that’s exactly what Six to Start does. With an average revenue per paid subscriber in excess of £25 a year, and with real growth potential, Six to Start will bring immediate value to OliveX. Most importantly, while we see great benefit from the team’s global subscriber base, loyalty and expertise in product design and monetization. ”

Tim Cooke, President and Jo Goodson, Non-Executive Director, Six to Start, said: “Adrian and his team have demonstrated the creativity and strength of the UK games industry with the brand. Globally recognized Zombies, Run!

“Six to Start story-based games have proven extremely popular during a pandemic where health and fitness are more of a concern than ever. After the shutdown, Six to Start will continue to help millions achieve their fitness and fun goals by combining immersive and engaging online experiences with the real world, alongside companies as big as Zoom, have shown how active they have become in people’s lives. “

OliveX intends to undertake a capital raise to raise a minimum of AU$6,000,000 (before expenses) in the coming days to fund its initial cash obligations under the acquisition and supply provide additional working capital. In addition, OliveX holds a timely shareholder meeting to obtain any necessary shareholder approval (including in relation to the issuance of shares and the right to exercise under the Acquisition).

END

Notes to the editor:

The main terms of the Conversion Transaction are outlined here: https://www.nsx.com.au/ftp/news/021739302.PDF

Zombies, run! The trailer – https://www.youtube.com/watch?v=niby3esOXdY

Please get in touch for more information:
Six to start
Adrian Hon
Managing director
adrian.hon@sixtostart.com

or

Tim Cooke
Chairperson
timcook@devonhurst.com

Olivex
Xavier Kris
Managing director
xavier.kris@olivex.ai

About six to start
Six to Start is an indie game developer based in London that specializes in games with game-like plots and stories. Their latest games include Zombies, Run!, the world’s best-selling smartphone fitness app, and The Walk, the first smartphone fitness game sponsored by the Department of Health UK.

Six to Start was founded in 2007, developing games starring millions of players for Channel 4, BBC and Muse, along with cutting-edge fiction for Penguin and Macmillan. The company also conducts research and development for companies including Disney Imagineering, Microsoft and the British Museum.

For more information, please visit www.sixtostart.com and to see Zombies 2020, Run! trailer please visit: https://youtu.be/niby3esOXdY

About OliveX Holdings Limited
OliveX is a digital health and fitness company that sells innovative products and apps to deliver unique user experiences using artificial intelligence, chemistry games, and premium content. With its flagship product KARA Smart Fitness Mirror and related subscription-based apps, OliveX provides a platform to link and engage consumers with brands, influencers and fitness trainers, while allowing any space to become a personal gym. OliveX has a market reach spanning more than 170 countries.

For more information, please visit www.olivex.ai

About KARA Smart Fitness
KARA Smart Fitness is OliveX’s digital app that delivers premium, on-demand fitness and health related content and classes from renowned coaches and health influencers around the world. bridge. KARA Smart Fitness complements the KARA Smart Fitness Mirror and together the products provide a complete hardware and software solution for harnessing artificial intelligence and technology to exercise at home.

For more information, please visit www.karasmartfitness.com

Revealing a forward-looking statement
This press release contains forward-looking statements or forward-looking information, within the meaning of applicable securities laws relating to the Company. In essence, forward-looking statements are dependent on many factors that may cause actual results to differ significantly from those suggested by forward-looking statements. Therefore, readers should not put undue confidence in forward-looking statements.

The forward-looking information contained in this press release is based on the opinions, estimates and assumptions of the Company’s Management, based on management’s experience and perceptions of historical trends, current conditions and expected future developments, as well as other factors that the Board of Directors currently considers appropriate and reasonable. situation. Forward-looking statements include significant risks, uncertainties and assumptions, and there is no guarantee that those statements, underlying risks, uncertainties and assumptions will be proven. proved to be correct. Factors that may cause materially different results or actual events include, but are not limited to, risks associated with laws, rules and regulations applicable to the Company and the industry in which it operates. operations (including taxes and other charges), economic or market conditions at both the national and global levels, currency fluctuations, risks inherent to other entities at this stage of development similar developments and the industry in which the Company is present, competition from the Company’s competitors, unsatisfactory development or marketing of the Company and/or products or services, regulatory action or litigation (including product liability claims) and failure to enter into agreements or arrangements with other parties on fair or reasonable terms. Forward-looking information is only made from the date it is provided and, except as may be required by applicable law, the Company disclaims any intention or obligation to update such forward-looking information. whether as a result of new information, future events or otherwise.



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