SINGAPORE (Oct 17): mm2 Asia has entered into a non-binding MOU with holding company Mozat Pte Ltd to acquire up to 30% stake in RINGS.TV for $4.5 million over 12 months after the binding investment agreement.

RINGS.TV is Singapore’s first interactive broadcasting technology platform to stream and broadcast live concerts, performances, conferences and other events. They are working with 88.3JIA FM among others to carry out live broadcasts on its platform.

Under the MOU, mm2 Asia will make an initial investment of $2.25 million to acquire 15% of RINGS.TV, with an option to increase its stake by an additional 15% for another $2.25 million.

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