M17, a Taipei-based social networking entertainment group is set to acquire MeMe Live, a live streaming platform that focuses on Asia-Pacific markets. Financial terms were not disclosed. As a result of this acquisition, M17's market share of the live streaming industry in Developed Asia will exceed 60% upon the integration of both companies' platform resources, content creators, and users. The acquisition will be completed upon the approval of M17 Group's board directors and shareholders. "MeMe Live is very excited to join M17 Group. As the entertainment streaming industry consolidates around a few large players, M17 Group was the obvious and preferred partner for us." Junnan Liang, MeMe Live CEO.