DGAP-Ad-hoc: blockescence plc / Key word(s): Mergers & Acquisitions
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:
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:
04-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|St. Christopher Street 168|
|VLT 1467 Valletta|
|Phone:||+356 21 22 7553|
|Fax:||+356 21 22 7667|
|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