NewWorld and WoLong Ventures Announce Completion of CPL and CAL Acquisition
August 23, 2010 -- DALLAS, TX and SINGAPORE -- NewWorld.com, Inc., an investment and management company in Dallas, Texas and WoLong Ventures, Pte. Ltd., an investment and management company in Singapore announced that they have finalized the acquisition transaction of the Cyberathlete Professional League (CPL) and the Cyberathlete Amateur League (CAL).
As part of this final transaction WoLong Ventures has acquired all of the international trademarks, logos and intellectual properties for both the CPL and CAL, in addition to other related assets. Neither NewWorld nor its shareholders have retained any interest or control in either property.
"We are excited to have completed this valuable acquisition," says WoLong Ventures CEO, Ryan Schumacher. "This acquisition is an important component of a larger strategic plan to create powerful experiences across diverse online platforms with an emphasis on entertainment and interactivity. While often imitated, the international success of the CPL brand has yet to be fully replicated."
Created by Angel Munoz (CEO of NewWorld), the CPL is a worldwide-recognized brand in the video game industry, and the pioneering organization that launched and defined computer game competitions as a professional sport.
NewWorld and WoLong have entered into a non-disclosure agreement about the financial details of the acquisition.