THQ Nordic AB: THQ Nordic acquires Goodbye Kansas Game Invest
THQ Nordic AB has acquired Goodbye Kansas Game Invest AB (GKGI)
through its wholly owned subsidiary THQ Nordic Lager 1 AB. The
favourable purchase price of SEK 42.4m on a cash and debt free basis
is notably below the capital invested by GKGI in its platform and the
portfolio companies. Through the acquisition THQ Nordic strengthens
its platform for minority investments in promising development
The acquisition includes a portfolio of minority investments in five
early-stage development studios; Palindrome Interactive, Fall Damage,
Neon Giant, Kavalri and Framebunker as well as royalty rights to THQ
Nordics upcoming game Biomutant. GKGIs previous investments in
IGDB, Bearded Dragons and Goodbye Kansas VR will be retained in
Goodbye Kansas AB.
Goodbye Kansas Game Invest is led by a skilled team with strong
insights and experience in developing and growing gaming companies.
Besides continuing to support the current portfolio, the transaction
provides a great platform for strategic investments in early-stage
companies as well as in established teams starting their own
development studios, says Lars Wingefors, Group-CEO THQ Nordic AB.
GKGI was founded in 2016 as an investment company focusing purely on
gaming companies under the umbrella of Goodbye Kansas AB. GKGI is
managed by a senior team of four gaming executives with a collective
industry experience of +45 years that have a broad network and
extensive knowledge in the Nordic gaming ecosystem.
GKGIs investment strategy entails making minority investments in
early-stage Nordic gaming companies and supporting their growth
journey. The current investment portfolio encompasses an attractive
selection of development studios with promising potential.
The Nordic countries have positioned themselves among the most
successful gaming communities in the world and we strongly believe in
their continued potential. We are looking forward to partner up with
THQ Nordic who share our passion for the gaming industry., says
Per-Arne Lundberg, CEO Goodbye Kansas Game Invest.
Goodbye Kansas AB has made a strategic decision to divest Goodbye
Kansas Game Invest AB in order to focus on our core business within
Studio and Infinite Entertainment. I am satisfied that the new home
to Game Invest is THQ Nordic, a company we know well and who we are
confident will develop Game Invest further, says Peter Levin, CEO
and founder of Goodbye Kansas AB.
Background and rationale
THQ Nordic has a clear growth strategy and a long and successful
history of acquiring game franchises and development studios. The
acquisition of GKGI launches a new platform for THQ Nordic to make
investments in early-stage companies and in established teams
starting their own development studios. THQ Nordic will add value not
only by capital and competence but also offering publishing and
knowledge sharing within the wider THQ Nordic group.
Financing of the transaction
The purchase price is paid in cash and financed through THQ Nordics
existing cash position. The transaction is not subject to any further
resolution or approval and was completed as of 12 August 2019.
Ernst & Young AB is providing transaction support and Synch Advokat AB
is acting as legal counsel to THQ Nordic in the transaction.
For additional information, please contact:
Lars Wingefors, Group-CEO
Tel: +46 708 47 19 78
About THQ Nordic
THQ Nordic develops and publishes PC and console games for the global
games market. The company has an extensive catalogue of over 100
owned franchises, such as Saints Row, Goat Simulator, Dead Island,
Darksiders, Metro (license), MX vs ATV, Kingdom Come: Deliverance,
Time Splitters, Satisfactory, Wreckfest amongst many others.
The Group has its head office in Karlstad, Sweden and a global
presence through its three operative groups, Deep Silver/Koch Media,
THQ Nordic GmbH and Coffe Stain. The Group has 18 internal game
development studios and close to 2,500 employees and contracted
developers in more than 40 countries.THQ Nordics shares are publicly
listed on Nasdaq First North Stockholm under the ticker THQN B with
FNCA Sweden AB as its Certified Adviser, reachable via firstname.lastname@example.org
or phone: +46 8-528 00 399.
For more information, please visit:
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