Globavend Agrees to Acquire 70% of AI-Powered Loomi Entertainment for $70
Globavend has agreed to acquire a 70% stake in Loomi Entertainment for a nominal $70, fueling its entry into AI-powered short-form digital entertainment in Southeast Asia. The deal, pending closing by May 22, 2026, will consolidate Loomi’s assets and a $550,000 interest-free loan into Globavend’s financials.
1. Transaction Details
Globavend has entered a definitive agreement to purchase a 70% equity interest in Loomi Entertainment Group for a nominal $70, subject to customary closing conditions expected by May 22, 2026. Loomi operates through subsidiaries in Malaysia, Singapore and Hong Kong and distributes micro dramas via its Loomi: Short Drama app.
2. Strategic Rationale
The acquisition marks Globavend’s expansion from e-commerce logistics into AI-enabled short-form digital entertainment, targeting the fast-growing micro drama segment. Loomi’s proprietary AI platform “Imaginary” offers end-to-end cinematic production tools, enabling efficient content creation and diversified revenue through mobile-first consumption trends.
3. Financial Impact and Integration
Upon closing, Loomi’s assets, liabilities and an existing $550,000 interest-free loan will be consolidated into Globavend’s financial statements, enhancing income stream diversification. Integration planning is underway, with the company poised to pursue additional opportunities in AI-powered content creation and creator economy platforms.