Acroud gives an update on US Strategy and withdraw from previously announced Letter of Intent
Acroud continues on the track with focus on the US market evaluating different growth initiatives to find the right balance between organic growth, partnerships with Media Houses and executing possible strategic acquisitions. As part of the evaluation Acroud has decided to withdraw from the process of a potential acquisition where a Letter of Intent (“LOI”) was announced 3rd of November 2020. The rationale behind the withdrawal is a combination of higher transaction risk than anticipated and increased momentum for our current assets.As a part of the previously completed and announced