ATV Payment date extension for Radian Arc License Agreement

Key points

• Activeport and Radian Arc sign agreement to extend payment date to 30 June 2025
• Radian Arc engaged in Series C funding round, progress made towards completion
• Activeport continues to be a strategic technology vendor to Radian Arc

Full summary

Activeport Group Ltd (ASX: ATV) has announced an extension to the $4M license agreement with Radian Arc Limited, which was originally announced on 14 November 2024. The agreement now states that the net funds will be payable in cash to Activeport by 30 June 2025, instead of the original 28 February 2025 date. Radian Arc is engaged in its Series C funding round, which although later than anticipated, has made significant progress toward completion. Activeport has been a strategic technology vendor to Radian Arc since inception and continues to support Radian Arc in delivering cloud gaming to more than 80 telecommunication companies globally.