06:50 AM EDT, 10/15/2024 (MT Newswires) -- NIP Group ( NIPG ) , a digital entertainment company, said Tuesday that it has agreed to acquire Wuhan Young Will, a talent management company, for a consideration starting at 23.2 million Chinese renminbi ($3.3 million) worth of shares.

NIP said the initial consideration will be in exchange for a 61% stake in the parent company controlling Young Will, ZSZQ.

NIP said it will later acquire an additional 13% stake annually from 2025 through 2027, after which the deal is slated to be completed.