Flexion extends its biggest deal
The deal has been extended to December 2020
LONDON, 5th of September, 2019 – Flexion Mobile Plc (Nasdaq: FLEXM), the Android games distribution company today announced that it has extended the initial term of its biggest ever deal to December 2020 which means improved marketing opportunities and reduced exposure to Flexion.
The breakthrough distribution agreement signed on the 20th of December 2018 with a leading mobile game publisher for three top-tier titles and one mid-tier title has been amended and extended as a result of the deeper partnership between the companies. Through the new agreement Flexion will retain the distribution rights for the four launched games in all its channels until at least the 31st of December 2020. The minimum guarantee that is part of the deal has been reduced to USD 3.8 million from the previously agreed ceiling of USD 4.6 million and is recoupable throughout the initial term. To simplify the settlement process, minimum guarantee commitments will be payable quarterly in advance.
"The extension of this deal is really positive since we always want the longest possible term for games in our portfolio. We are building strong and deep partnerships with our developers and it is a seal of approval when big deals like this are extended. It means that we can work on longer term marketing campaigns for these titles. The extended term and the lower guarantee also reduce exposure and will unlock capital for new growth investments. The quickest way for us to grow our games portfolio is to expand our existing deals and this is a big step in that direction. We will also get leverage through the expanded number of channels that we add as strategic distribution partners including the agreement with Xiaomi that we announced recently", says Jens Lauritzson CEO of Flexion Mobile Plc.
For more information
Niklas Koresaar CFO, Email: email@example.com. Tel: +44 207 351 5944
This is information that Flexion Mobile Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on September 5th, 2019.
About Flexion Mobile Plc:
Flexion offers a distribution service for free-to-play Android games. Using the service developers can distribute their games in multiple channels like Amazon, Samsung, Xiaomi, One Store and leading regional distribution channels. These are channels that the developers are struggling to reach and support. At the core of Flexion's service is the patented enabling and enhancement software that converts developers' existing Android games into specific game versions for the new stores without any work required.Flexion Mobile Plc is listed on Nasdaq First North Growth Market, Ticker: FLEXM. Certified Adviser is FNCA Sweden AB, +46(0)8-528 00 399 firstname.lastname@example.org.