Engine gaming & media announces agreement to divest assets of umg gaming subsidiary to harena data

Agreement and divesture of subsidiary marks company's focus on core high-growth b2b analytics, marketing, advertising, and gaming businesses transaction is part of a series of actions to be taken to eliminate approximately $16m of annualized cash operating expenses, moves the company toward achieving goal of run rate breakeven by 2023 new york, ny / accesswire / june 22, 2022 / engine gaming and media, inc. ("engine" or the "company") (nasdaq:game) (tsx-v:game), a data-driven, gaming, media and social influencer marketing solutions company, today announced that its wholly owned subsidiary, umg events, llc ("umg"), had entered into an agreement with harena data, inc. ("harena data") for the sale of certain umg assets. in addition to the transfer of assets, umg will supply various technology services to harena data following the closing of the transaction.
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