FRANKFURT- 468 SPAC, a blank check firm set up by German tech entrepreneurs, on Thursday said it has entered exclusive negotiations to buy children entertainment firm Boxine at a post-money valuation of about 1 billion euros ($1.2 billion).

468 SPAC has signed a letter of intent that includes raising 100 million euros through private investment in public equity (PIPE) for Boxine, it said. ($1 = 0.8378 euros)

(Reporting by Arno Schuetze; Editing by Christoph Steitz) ((; +49 30220133648;))