gamigo AG: acquisition of Trion Worlds games company to further strengthen its market-position in the games market
gamigo AG / Key word(s): Mergers & Acquisitions
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014
Hamburg, October 22, 2018: gamigo AG (“gamigo Bond” WKN: A2NBH2 / ISIN: SE0011614445) has acquired major assets from Trion Worlds Inc. Trion Worlds is a leading US gaming company with offices in Redwood City (California) and Austin (Texas) and has as publisher and developer of online and console MMO-games, well-known games such as Rift, Defiance, Trove and ArcheAge in it’s portfolio. The assets of the company have been acquired by gamigo’s subsidiary Golden Gate Games Inc., via an “Assignment for the Benefit of the Creditors” process, in which the buyer only buys those assets, with which he wishes to continue the business.
The gamigo group has acquired the majority of the assets, including the platform, takes over employees to operate the business and gets the full publishing rights of the games. The IP’s of the Trion Worlds games have been acquired by gamigo’s sister company Padmapani GmbH and are made available for gamigo group, worldwide and exclusive.
It is expected that the Trion Worlds acquisition will add on gamigo group level revenues of at least USD 18 million in 2019. Depending on the speed and success of restructuring and integration, management expects an additional EBITDA of USD 1 to 4 million, based on unlocking substantial synergies and economies of scale as proven in numerous acquisitions before.
The full purchase price amounts to a low USD two-digit million amount (including possible earn-outs).
About gamigo AG:
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of gamigo AG or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of gamigo AG and its affiliated companies and the estimates given here. Neither gamigo AG nor its affiliated companies assume any liability to update these forward- looking statements or to adapt them to future events or developments.
For further information please contact:
|+49 (0)40-411 885-0
|+49 (0)40-411 885-255
|Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart, Tradegate Exchange
|End of Announcement
|DGAP News Service
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