The publicly listed music company Vinyl Group acquired Serenade's digital and physical collectibles in a stock transaction worth up to $1.6 million

ChainCatcher news, Australian listed music company Vinyl Group has acquired the assets of London-based Serenade, a platform focused on digital and physical collectibles, in a share transaction worth up to $1.6 million.

Vinyl Group CEO Josh Simons stated that the company launched its own website last year, aiming to digitally replicate the "crate-digging" experience. This acquisition marks the company's expansion into the UK and European markets while enhancing its product offerings in the digital collectibles space. "Our plan has always been to expand the product offerings on Vinyl.com, including music merchandise, digital collectibles, and experiences that connect fans and creators. Acquiring Serenade is the next step in that process," Simons said.

According to the terms of the agreement, Vinyl has prepaid $553,000 in shares, with an additional $1 million contingent on revenue and profit targets.