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DGAP-Adhoc: blockescence plc: portfolio company gamigo AG acquires gamepublisher WildTangent Inc. in the form of an asset deal

EQSnews_EN 
0 0 04.04.19
DGAP-Adhoc: blockescence plc: portfolio company gamigo AG acquires gamepublisher WildTangent Inc. in the form of an asset deal
 

DGAP-Ad-hoc: blockescence plc / Key word(s): Mergers & Acquisitions
blockescence plc: portfolio company gamigo AG acquires gamepublisher WildTangent Inc. in the form of an asset deal

04-Apr-2019 / 00:26 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

blockescence plc: portfolio company gamigo AG acquires gamepublisher WildTangent Inc. in the form of an asset deal
 

- 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
 

Valletta, 3 April 2019: The gamigo AG - a portfolio company of the blockescence plc (WKN: MT0000580101; Symbol: BCK, "blockescence") and one of the leading online games publishers in North America and Europe - has 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 gamigo group's 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:

Notes
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. blockescence holds 38% of the shares and 53% of the voting rights of the gamigo AG and is planning to increase it's stake.

CEO Remco Westermann: 'We are very happy about this successful acquisition which enabled gamigo to further expand its market position in the USA. WildTangent is profitable from day one after the acquisition and will contribute directly to gamigo group's operating profit and as a result of that also add to blockescences results. The acquisition allows gamigo to further leverage economies of scale as well as synergies.'
 

About blockescence plc:
blockescence is a strategic investment holding that focuses on a 'buy, build & sell' strategy of rapidly growing companies within consolidating TMT sectors. The blockescence portfolio companies grow through acquisitions as well as organic growth. New technologies are actively being used to create USP's and improvements in efficiency within the portfolio companies. One example is the implementation and the roll-out of the Distributed Ledger Technology (DLT or blockchain technology) to create competitive advantages within the portfolio companies. blockescence has its headquarter in Valletta (Malta), holds daughter companies in Switzerland and Germany, and is listed at the Frankfurt stock market as well as on XETRA.
 

Disclaimer:
This release may contain certain forward-looking statements based on current assumptions and forecasts made by the management of blockescence 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 blockescence and its affiliated companies and the estimates given here. Neither blockescence 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: [email protected]

Emitter:

blockescence plc
Soeren Barz, Head of Investor Relations
St. Christopher Street 168
Valletta VLT 1467
Malta
E-mail: [email protected]
Web page: www.blockescence.com

04-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: blockescence plc
St. Christopher Street 168
VLT 1467 Valletta
Malta
Phone: +356 21 22 7553
Fax: +356 21 22 7667
E-mail: [email protected]
Internet: www.blockescence.com
ISIN: MT0000580101
WKN: A1JGT0
Listed: Regulated Unofficial Market in Berlin, Frankfurt (Basic Board); Malta
EQS News ID: 795747

 
End of Announcement DGAP News Service

795747  04-Apr-2019 CET/CEST

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