Color Star Technology Expands into Sports Technology Segment with Planned Acquisition of Yi Ti Technology

Color Star Technology, a leading entertainment technology company, has announced its intention to acquire Yi Ti Technology, a sports technology solutions provider. The non-binding letter of intent (LOI) marks a significant step for Color Star in expanding its presence in the sports technology segment.

Yi Ti, founded in 2015, has established itself as a prominent player in the industry, providing services such as organizing sporting events, building sporting venues, offering training programs, and delivering sports data solutions. The company has been involved in major international sporting events, including the Winter Olympics and the World Cup, where it has showcased its technology and AI solutions.

The planned acquisition will enable Color Star to leverage Yi Ti’s expertise and services, further enhancing its capabilities in the sports technology space. Color Star CEO, Louis Luo, expressed excitement about the potential acquisition, noting that Yi Ti’s annual revenue has been steadily growing. He highlighted Yi Ti’s recent involvement in the 2022 Asian Games, where the company provided AI technology services and support.

Mr. Qiu, president of Yi Ti, emphasized the mutual benefits of the planned acquisition. He stated that the transaction would provide Yi Ti with additional funds for research and development, allowing them to increase their market share. Furthermore, Yi Ti’s latest sports technology products will be made available to Color Star, providing them with an advantage when negotiating with sports companies in Europe and North America.

While the LOI has been signed, the completion of the transaction is subject to due diligence investigations, negotiation of a definitive agreement, and satisfaction of customary closing conditions. Color Star and Yi Ti are optimistic about the potential synergies and growth opportunities that this acquisition could bring.

Color Star Technology Co., Ltd. is an entertainment and education company that offers online entertainment performances and music education services. Its online education platform, Color World, provides a comprehensive range of music and entertainment education programs.

Yi Ti Technology Co., Ltd. specializes in sports technology solutions, aiming to digitally empower the industry through its services, including event organization, venue construction, training programs, and sports data solutions.

As Color Star moves forward with its plans to acquire Yi Ti, the company is poised to make a significant impact in the sports technology sector, contributing to and participating in more international sporting events in the future.