WRIT Media Group, Inc. has announced that it has entered into exclusive negotiations with private equity firm Pandora Venture Capital Corp. to acquire its digital currency technologies, with WRIT Media Group taking a controlling interest in the technologies. Pandora Venture Capital focuses on development stage technology opportunities but for WRIT Media Group this would be its first investment into digital currency technologies. The offer is subject to WRIT Media Group’s due diligence of the relevant technologies, and all parties will enter into the final negotiations on successful completion of this process.
The digital technologies would be used by WRIT Media Group to organize trade in digital currency instruments. The potential acquisition will also include a digital currency which combines the a marketing model which creates the actual value with the system of mining cryptocurrency bitcoin.
Equity for the transaction would be provided by WRIT Media Group, Inc., with additional funding provided by Pandora Venture Capital and its related European private equity partners. In the past, WRIT Media Group has taken controlling positions in development stage entertainment and video game companies with brand names or market expertise.