Momentous Entertainment Group acquires German social network firm

Momentous Entertainment Group acquired Poolworks Germany Ltd for $10m in preferred stock. Poolworks is one of the largest social media companies in Europe.

The transaction is expected to close by the end of December."This is a significant acquisition that allows us to target the German speaking market with our expanding entertainment content library," says Momentous CEO Kurt Neubauer. "The Poolworks acquisition will bring the necessary asset value to Momentous to begin to consider the process of a possible uplisting to the NASDAQ or the New York Stock Exchange," he adds.