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Revisions

Artivision Technologies to sell Artimedia subsidiary to CTO for $5 mil

PC Lee Published on Sun, Jun 11, 2017 / 10:02 PM GMT+8

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SINGAPORE (June 11): Artivision Technologies has entered into an agreement to sell Dr Ofer Miller, its Executive Director and CTO, its entire stake in subsidiary Artimedia for $5 million.

Artimedia is in the business of sales and marketing by providing value added monetisation services for digital advertisement.

In explaining the disposal, Artivision says Artimedia has incurred losses since incorporation and that the subsidiary requires a substantial amount of funding which is difficult to obtain.