Wicket Gaming signs letter of intent to acquire Wegesrand with a turnover of EUR 2.5 million
25th October 2021 kl. 08:30 CEST
Wicket Gaming AB ("Wicket Gaming" or the "Company") has signed a letter of intent with the German group Wegesrand Verwaltungsgesellschaft mbH ("Wegesrand") to acquire all shares in Wegesrand with subsidiaries for a total purchase price of approximately EUR 4 million. Most of the purchase price will be paid with newly issued shares in Wicket Gaming which will be subject to a lock-up commitment. The letter of intent gives Wicket Gaming an exclusive right to conduct due diligence with the aim of signing a final purchase agreement around the end of 2021/2022.
Wegesrand is a gaming, media and digital education group with several offices in Germany, headquartered in Mönchengladbach. The Group consists of approximately 20 full-time employees. The company has expertise in computer game development, game design and digital education, in addition to this, the Group also has several proprietary titles that are planned to be launched over the next two years. The Group is expected to have a turnover of EUR 2.0-2.5 million in 2021 with positive operating profit and has shown good historical growth.
The seller of Wegesrand, Thorsten Unger, becomes a large owner in Wicket Gaming upon completion of the transaction. Thorsten Unger will retain his role as CEO of Wegesrand and will also join Wicket Gaming's management team. Wegesrand will be a sub-group within the Wicket Gaming Group and will continue to assist Wicket Gaming with current and future titles.
Facts about the companies that are part of the Wegesrand Group:
Linked Dimensions has a solid collection of highly rated game developers with backgrounds from Electronic Arts and Ubisoft, among others. The Linked Dimension team has worked with world-leading game titles, such as FIFA and Football Manager.
Unger & Fiedler is a design studio with many years of experience in game design. The studio has worked with well-known Coffee Stain Studios, Fishlabs and Hasbro as well as the following game titles; Hunt: Showdown, Elder Scrolls Legends, Dead Island: Survivors and Star Wars: X-Wing.
Wegesrand is a digital education company and the people in the company have extensive experience in Serious Games, Game-Based-Learning and Gamification. The company has worked with well-known companies such as Bertelsmann, Deutsche Bank, Mercedes-Benz, and Volkswagen-group.
Eric de Basso, CEO of Wicket Gaming, comments:
"The management of Wicket Gaming has identified potential synergies with the Wegesrand Group on and both companies share a common vision of being able to become a major player in the verticals Games, Media, iGaming and education. Through the acquisition, we benefit from cutting-edge knowledge in the areas of Games, Media and Education. Thorsten Unger has a very wide network of contacts in the global market for game development, with this network we intend to locate new potential acquisitions in the future”, says Eric de Basso.
A presentation of the acquisition can be found on the links below.
A video presentation with CEO Eric de Basso can be found at the following link:
https://www.youtube.com/watch?v=O2hWPXmQQwE
The presentation in PDF can be found at the following link:
https://wicketgaming.com/wp-content/uploads/2021/10/Wicket_Gaming_Acquires_Wegesrand_Okt_2021.pdf
For further information, please contact:
Eric de Basso, CEO, Wicket Gaming AB
Email: eric@wicketgaming.com
Telephone: +46 70 780 52 00
This information is information that Wicket Gaming is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-10-25 08:30 CEST.
About Wicket Gaming
Wicket Gaming is a Swedish game development company founded in 2015. The Company’s business concept is based on developing and distributing so-called free-to-play games within the sports genre. Since its foundation, the Company has been working to develop its first title, Cricket Manager, which is a cricket manager game for mobile devices. In the game, players are enabled to create and own their own cricket club and compete against other players around the globe. The goal is to create one of the world’s most popular cricket manager games for mobile devices and to utilize the existing tech-platform to broaden and scale the game portfolio to include other sport manager games.
For further information, see Wicket Gamings website www.wicketgaming.com.