Animoca Brands has acquired SOMO for an undisclosed amount, marking a significant corporate acquisition. This transaction sees Animoca Brands taking full ownership of SOMO, an organization renowned for its independent, factual, and critical investigations into multinational corporations.
SOMO operates with a clear goal: to foster a fair and sustainable world where public interests consistently outweigh corporate interests. The organization actively addresses the outsized and often harmful power of multinational companies, which it identifies as a barrier to progress. To achieve its mission, SOMO meticulously investigates multinationals, exposing their impact, structures, and the systems they operate within. It also develops alternatives and conducts advocacy work, delivering knowledge crucial for driving far-reaching change. SOMO emphasizes its role within a civil society movement, collaborating deeply with partners globally as part of a broader ecosystem of stakeholders.
This acquisition represents a strategic move by Animoca Brands to integrate SOMO's specialized capabilities and mission-driven approach. While the specific strategic alignment was not detailed, it is anticipated that SOMO's expertise in exposing corporate impact and advocating for public interests will complement Animoca Brands' broader objectives. The integration is expected to leverage SOMO's established methodologies and extensive network, potentially enhancing insights into global corporate landscapes and stakeholder ecosystems.
The combined entity is poised to continue SOMO's critical investigative and advocacy work. Under Animoca Brands' ownership, SOMO's mission to shift the power balance towards public interests is expected to gain further support and resources, potentially expanding its reach and impact. This integration aims to strengthen the pursuit of a more equitable and sustainable global environment.