FUNCOM ANNOUNCES RESTRUCTURING OF THE COMPANY
As part of the ongoing review of strategic options
announced on 22 October 2012, Funcom has initiated a
process of restructuring the Company around its core
products and technology. This includes the
consolidation of offices and teams around the world as
well as the streamlining of internal processes. By
taking advantage of the Company's industry-leading
proprietary technology, the new organization will be
better equipped to realize the strategy of building
smaller high quality MMO games such as the upcoming
'LEGO Minifigures' game which is currently in
development by the highly experienced team at the
Company's Oslo studio.
The restructured organization will continue to focus
strongly on its existing, successful MMO games; 'Age
of Conan', 'Anarchy Online' and 'The Secret World'.
Through providing more organizational focus and
strengthening the competence of a joint central team
that will continue to operate and enhance these games,
the Company will work towards increasing their
profitability and continue to provide exciting
experiences for existing, returning and new players of
these online worlds.
The Company is especially pleased with the successful
re-launch of 'The Secret World', after switching to a
buy-to-play business model in December 2012. Activity
levels in the game have increased by over 400% as
original players have returned joined by thousands of
new players. After its re-launch, 'The Secret World'
has sold more than 70,000 units in the last four weeks
alone, which is close to 30 percent increase in total
sales. The Company will continue to build on this
initial success in the months to come.
"We are building the basis of a very sustainable
business" says Ole Schreiner, CEO of Funcom."With a
restructured organization, we will have a joint team
of the best-of-the-best working together to expand our
existing online worlds and to create new, exciting and
memorable online experiences such as our upcoming
'LEGO Minifigures' game."
The restructuring of the Company will involve cost
reductions through the closure and the consolidation
of offices with the goal of creating a stronger
unified organization that can take full advantage of
the exciting opportunities that face the games
industry as it steps into 2013 and beyond.
Details on the results of the restructuring will be
made available once the process is complete.
Any enquiries may be addressed to .
Badhoevedorp, The Netherlands, 10 January 2013
This information is subject of the disclosure
requirements acc. to §5-12 of vphl (Norwegian
Securities Trading Act)