Embracer Group acquires Sola Media
Embracer Group wholly owned subsidiary Koch Film acquires Sola Media. The company, based in Stuttgart, Germany, is a sales agent of international film-and TV-rights, distributing children and family films across the globe.
Sola Media was founded in 2004 by Solveig Langeland, a Norwegian-born industry veteran who now leads a small team of hand-picked industry experts.
Koch Films acquires 100% of Sola Media for EUR 2.3 million, of which approximately 80% is paid in cash and 20% is paid in Embracer B shares. A total of 32,596 shares are issued at a price of SEK 142.03 per share, which equals the 20 day volume weighted average price of Embracer B shares on Nasdaq First North Growth Market up to and including12 August 2020.
Acquisition highlights: Sola Media has a strategic focus on, and extensive experience in, an attractive niche – animated children and family films. It is an established business with stable profitability and cash conversion and significant pipeline visibility with 12 upcoming signed projects. Synergies from the transaction are expected where i.a. Sola Media provides additional access to content, and Koch Films provides additional access to markets.
Going forward, management estimates net sales of EUR 4–5 million and an operating EBIT of around EUR 1 million per year on average over the coming years. Sola Media is to remain independent with Solveig Langeland committed to remaining as managing director.
For more information, please contact:
Lars Wingefors, Co-founder and Group CEO, Embracer Group
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
Stefan Kapelari, CEO, Koch Films
Tel: +49 162 25 25 705
E-mail: s.kapelari@kochmedia.com
Solveig Langeland, CEO, Sola Media
E-mail: solveig@sola-media.com
About Koch Film
Koch Media is one of Germany's leading independent media companies with activities in game, film and software distribution. Starting out in 2003, its film division, Koch Films, has positioned itself successfully as one of the leading independent labels in the theatrical and home entertainment sector as well as an all rights distributor and co-producer for German Speaking Europe and Italy. The portfolio of over 2.000 products includes theatrical releases next to first class video premieres, TV-Series, classics and special interest titles.
About Embracer Group
Embracer Group is the parent company of businesses developing and publishing PC and console games for the global games market.
The Group has an extensive catalogue of over 170 owned franchises, such as Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdom Come: Deliverance, TimeSplitters, Satisfactory, Wreckfest, Destroy All Humans!, World War Z and SnowRunner, amongst many others. With its head office based in Karlstad, Sweden, Embracer Group has a global presence through its five operative groups: THQ Nordic, Koch Media/Deep Silver, Coffee Stain, Amplifier Game Invest and Saber Interactive. The Group has 33 internal game development studios and is engaging more than 4,000 employees and contracted employers in more than 40 countries.
Embracer Group’s shares are publicly listed on Nasdaq First North Stockholm under the ticker EMBRAC B with FNCA Sweden AB as its Certified Adviser; info@fnca.se +46-8-528 00 399.
For more information, please visit: http://www.embracer.com