Vietnam-based Yeah1, a digital media firm, has bought 100 percent of U.S.-based ScaleLab, a multi-channel network for YouTube channels, for $20 million.
Yeah1 said that following the close of the transaction, it will have more than 3,000 YouTube channels, 610 million subscribers and 6.9 billion views per month.
The company added that it has opened a term deposit account worth $12 million to guarantee credit of $10 million to fund the deal.
In 2017, ScaleLab generated revenues of $27.2 million.