One Horizon Group Inc. (NASDAQ:OHGI) lost 1.98% in the last trading session to close at $0.123 following the announcement that the company had entered an exchange agreement MAHAM LLC members to acquire 51% majority stake in MAHAM. However, this is subject to the approval of the transaction by One Horizon’s majority stockholders.
MAHAM transforming yoga
The acquisition is aimed at expanding the social media reach of the company by leveraging on its 123Wish Technology Platform. MAHAM is known to offer high intensity 60-minute yoga classes that are set to upbeat pop and hip-hop music that ranges from Justin Beiber to Biggie Smalls. The classes are conducted in a heated infrared facility in Miami Beach. MAHAM is transforming yoga by attracting celebrity musicians passing through Miami as well as those who live in Miami to the studio.
Skylar Hauswirth, the president and founder of MAHAM, stated that they have the hottest studio in Miami with an exclusive Yacht Yoga. The company is planning to launch a subscription-based streaming feature that offers on-demand and live classes, and they are excited about the future being part of One Horizon company. Skylar added that since the inception of the company the concept has always been to take yoga to the next level by creating an exciting experience that is fun and addictive. The collaboration with One Horizon will most likely enhance the services that MAHAM offers by providing inviting yoga.
Acquisition to help leverage the 123Wish platform
Mark White the CEO and Founder of One Horizon stated that MAHAM yoga innovation offers them a way to leverage their 123Wish technology platform as well as the company’s media streaming capabilities. Spencer Christopher, the Chief Technology Officer, will lead the innovation. He joined from Apple a few months ago, and he has been in charge of the MAHAM technology expansion efforts and integration which has placed the company in a position to bring MAHAM yoga to the rest of the world. The CEO indicated that they except then digital engagement of the unveiling of a streaming platform from MAHAM business to be a significant driver of growth.