NASDAQ-listed Globavend has acquired 70% of AI-drama app Loomi in a total industry pivot…
The app uses the “Imaginary” AI platform to generate cinematic sequences from simple prompts…
The move signals a shift from e-commerce logistics to AI-powered digital entertainment…
Short-form “Micro-Dramas” are now the fastest-growing segment in Southeast Asian media…
The logistics of shipping packages just got traded for the logistics of shipping AI stories…
Globavend Expands into Digital Entertainment Through Proposed Acquisition of Loomi Entertainment
Globavend (NASDAQ: GVH) signed a definitive agreement to acquire 70% of Loomi Entertainment Group for a nominal consideration of $70, with closing expected on or before May 22, 2026, subject to customary conditions.
The deal expands Globavend from e-commerce logistics into AI-enabled short-form digital entertainment, adding Loomi’s “Loomi: Short Drama” app, its AI production platform “Imaginary”, and operations in Malaysia, Singapore and Hong Kong. Loomi will become a non-wholly-owned subsidiary, and its results, assets, liabilities and an existing ~US$550,000 interest-free shareholder loan owed to the Vendor will be consolidated.