Wed. Dec 1st, 2021


  • Six to Start is owned by digital health and fitness company OliveX Holdings Ltd.
  • Based in the UK, Six to Start is a specialist developer and content creator of game-like health and fitness stories.
  • Six to Start owns the zombies, Run! Smartphone experience and is the world’s best-selling gamified fitness application with over 8.5 million downloads.

London, UK – March 8, 2021. British company Six to Start Limited (Six to Start) is pleased to announce that it is being taken over by OliveX Holdings Limited (NSX: OLX) the digital health and fitness company. OliveX will acquire 100 percent of the issued shares of Six to Start for an initial cash and stock consideration equal to $ 6,650,000 and deferred performance-based cash and stock consideration of up to $ 2,850,000.

Six to Start is an award-winning game developer and fitness technology company based in the UK that creates engaging and engaging smartphone audio stories and gaming experiences like Zombies, Run !, The Walk and Zombies, Run! 5k.

Zombies, run!  image

Zombies, run! image

Zombies, run! is the world’s leading gamified health and fitness app with an average of 300,000 active users per month, approx. 50,000 paid subscription users and a digital fitness platform with augmented reality functions that have been recognized as the best in their class. Multi-award-winning novelist Naomi Alderman is the lead author of Zombies, Run!

Six to Start’s gamification assets include intellectual property, content creation and distribution channels that are strategically important for OliveX as it continues to market its KARA Smart Fitness mirror – an interactive mirror that comes with live and on-demand workout courses is updated.

As part of the acquisition, Adrian Hon, CEO and founder of Six to Start, will become Chief Innovation Officer at OliveX while remaining Executive Director of Six to Start to drive the growth and implementation of the company’s innovation strategy.

Adrian Hon, CEO of Six to Start, said, “Six to Start has built a strong business model and a huge subscriber base of loyal users for our apps, including Zombies, Run! and our growth strategy fits in perfectly with OliveX. We’ve both developed innovative, breakthrough technology that, when combined, will really advance the future of digital fitness

OliveX suite of products and solutions that truly are world leaders. I am incredibly excited to join OliveX as Chief Innovation Officer, and I am very much looking forward to what lies ahead. “

Speaking of the acquisition, Keith Rumjahn, CEO of Hong Kong-based OliveX said:

“At OliveX, we care about fitness being fun, and that’s exactly what Six to Start does. With average earnings per paying subscriber in excess of £ 25 per year and real growth potential, Six to Start will bring OliveX immediate value. Most importantly, we see tremendous benefits in their loyal global subscriber base and the team’s product design and monetization expertise. “

Tim Cooke, Chairman, and Jo Goodson, Non Executive Director, Six to Start, said, “Adrian and his team brought the creativity and power of the UK games industry to the world with the world-renowned Zombies, Run!

“Six to Start’s story-driven games have proven incredibly popular during the pandemic-induced bans, now that health and fitness are more on people’s minds than ever. After the lockdown, Six to Start will continue to help millions achieve their fun and fitness goals by combining immersive and engaging online experiences with the real world, along with big companies like Zoom who have shown how important they are to the People’s lives have become.

OliveX intends to conduct a capital increase in the coming days to raise at least A $ 6,000,000 (before costs) to fund its initial cash obligations under the acquisition and to provide additional working capital. In addition, OliveX will hold a shareholders’ meeting in due course to obtain necessary shareholder approvals (including with respect to the issue of shares and performing rights in connection with the acquisition).

END

Notes for editors:

The main terms of the acquisition are listed here: https://www.nsx.com.au/ftp/news/021739302.PDF

Zombies, run! Pendant – https://www.youtube.com/watch?v=niby3esOXdY

For more information, please contact:
Six to start
Adrian Hon
Managing Director
adrian.hon@sixtostart.com

or

Tim Cooke
Chairperson
timcooke@devonhurst.com

Olivex
Xavier Kris
Managing Director
xavier.kris@olivex.ai

About six to start
Six to Start is an independent game developer based in London specializing in story-like games and game-like stories. Her latest games include Zombies, Run !, the world’s best-selling smartphone fitness app, and The Walk, the first smartphone fitness game funded by the UK Department of Health.

Founded in 2007, Six to Start develops games with millions of players for Channel 4, BBC and Muse, along with cutting edge fiction for Penguin and Macmillan. The company also does research and development for companies like Disney Imagineering, Microsoft and the British Museum.

For more information, please visit www.sixtostart.com and to see the Zombies 2020, Run! Followers please visit: https://youtu.be/niby3esOXdY

About OliveX Holdings Limited
OliveX is a digital health and fitness company that sells innovative products and applications to provide a unique user experience with artificial intelligence, gamification and premium content. With its flagship product KARA Smart Fitness Mirror and the associated subscription-based applications, OliveX offers a platform that connects and appeals to consumers with brands, influencers and fitness trainers and turns every room into a personal fitness studio. OliveX has a market reach of over 170 countries.

For more information, please visit www.olivex.ai

About KARA Smart Fitness
KARA Smart Fitness is OliveX’s digital application that provides premium, on-demand and live content and courses on health and fitness from prominent trainers and wellness influencers around the world. KARA Smart Fitness complements the KARA Smart Fitness Mirror and together the products offer a complete hardware and software solution that uses artificial intelligence and technology for fitness at home.

For more information, please visit www.karasmartfitness.com

Disclosure of Forward-Looking Statements
This press release contains forward-looking statements or forward-looking information within the meaning of applicable securities laws relating to the company. By their very nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from those proposed in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

The forward-looking information contained in this press release is based on management’s opinions, estimates and assumptions in light of its experience and perceptions of historical trends, current conditions and expected future developments, as well as other factors that management currently believes to be appropriate and reasonable in the circumstances. Forward-looking statements involve significant risks, uncertainties and assumptions and there can be no assurance that such statements, underlying risks, uncertainties and assumptions will prove to be correct. Factors that could cause actual results or events to differ materially include, but are not limited to, risks related to laws, rules and regulations that apply to the company and the industry in which it operates, including with respect to on taxes and other levies), economic or market conditions on a national and global level, currency fluctuations, risks of other companies in a similar stage of development and industry in which the company is currently, competition from the company’s competitors, unsatisfactory development or marketing of the company and / or its products or services, government action or litigation (including product liability claims) and failure to enter into agreements or arrangements with other parties on fair or reasonable terms. Forward-looking information is only created at the time it is made available and the company disclaims any intention or obligation to update such forward-looking information, whether as a result of new information, future events or otherwise.



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