gamigo AG

  • WKN: A2NBH2
  • ISIN: SE0011614445
  • Land: Deutschland

Nachricht vom 04.04.2019 | 00:25

gamigo AG: acquisition of the gamepublisher WildTangent Inc. in the form of an asset deal leads to further profitable growth

gamigo AG / Key word(s): Mergers & Acquisitions
gamigo AG: acquisition of the gamepublisher WildTangent Inc. in the form of an asset deal leads to further profitable growth

04-Apr-2019 / 00:25 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

gamigo AG: acquisition of the gamepublisher WildTangent Inc. in the form of an asset deal leads to further profitable growth
 

- WildTangent is a leading publisher of casual games, based in Bellevue, Washington State (USA)

- Attractive asset deal; WildTangent publishes over 4,000 games and makes a positive contribution to EBITDA of the gamigo group from day one after the acquisition

- Great potential for synergies with gamigo's game publishing activities

 

Hamburg, 3, April 2019 - The gamigo AG today, via it's 100% subsidiary gamigo Inc., acquired substantially all assets of the US games publisher WildTangent Inc. ("WildTangent"). The purchase price is in the mid-single-digit million US dollar range. The parties have agreed not to disclose the exact purchase price. The assets include, among others, a portfolio of over 4,000 games, which are distributed via the company's own platform and in close cooperation with leading computer and laptop manufacturers. The acquired business of WildTangent is expected to contribute to revenues with a mid-single-digit million US dollar amount in the current financial year and to positively contribute to the gamigo group's EBITDA from the date of acquisition.

In addition to the positive financial figures, gamigo expects the acquisition to generate significant synergies with gamigo's current gaming activities and portals. WildTangent operates a gaming platform with more than 4 million visitors per month, a network of more than 400 game developers and publishers, a substantial customer base, as well as contracts for the distribution of the games portfolio via leading computer manufacturers.


Information and Explanation of the Issuer to this News:

With this acquisition, gamigo AG continues its series of successful acquisitions using the consolidation potential of the market. Based on its platform strategy, synergies between gamigo and the acquired companies can be leveraged and thus contribute to the further profitable growth of the group. With the current acquisition of the WildTangent assets as well as the Trion Worlds assets at the end of 2018, gamigo significantly strengthened its position in the USA, one of the world's largest gaming markets.

Remco Westermann, CEO of the gamigo group: 'We are very happy about this successful acquisition and can thus further expand our market position in the USA. WildTangent is profitable from day one after the acquisition and will as such immediately contribute to gamigo group's operating profit. The acquisition will allow us to further leverage economies of scale as well as synergies. We further continue our path of growth and continue looking for further suitable targets'.
 

About the gamigo AG:
Since its foundation in 2000, gamigo has developed into one of the leading publishers of free-to-play online and mobile games in Europe and North America. In total, the gamigo group employs more than 350 employees at its headquarter in Hamburg and branches in Berlin, Münster, Darmstadt, Cologne (Germany), Warsaw (Poland), Istanbul (Turkey), Chicago, Austin, Redwood City (USA), Toronto (Canada) and Seoul (Korea). The company's core portfolio includes successful gaming titles such as Rift, Trove, ArcheAge, Defiance, Aura Kingdom and Fiesta Online. gamigo grows via organic growth as well as through acquisitions and has made over 20 acquisitions since 2013, including games, media and technology companies as well as individual game assets.
 

Disclaimer:
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of the 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 the gamigo AG and its affiliated companies and the estimates given here. Neither the gamigo AG nor its affiliated companies assume any liability to update these forward-looking statements or to adapt them to future events or developments.
 

Press contact:

edicto GmbH
Axel Mühlhaus / Dr. Sönke Knop
Phone +49 69 9055 05 51
E-mail: gamigo@edicto.de

Company contact:

gamigo AG
Soeren Barz, Head of Investor Relations
Investors Relations
ir@gamigo.com

Emitter:

gamigo AG
Behringstraße 16 B
22765 Hamburg
Germany
E-mail: info@gamigo.com
Web page: www.gamigo.ag


04-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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