Kustom Entertainment to Sell Video Solutions Division to Cycurion for Up to $8.5 Million
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Kustom Entertainment, Inc. has signed a non-binding Memorandum of Understanding with Cycurion, Inc. to sell its video solutions division for $6.0 million to $8.5 million. The deal includes $1.0 million to $1.4 million in cash and the rest in preferred stock. This sale aligns with Kustom's strategy to focus on live event production and online ticketing, using its Country Stampede Music Festival as a growth model. The transaction is subject to customary closing conditions and final negotiations.
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