Flexion Mobile signs biggest deal in company history
Blockbuster titles expected to generate more than USD 4.6 million in revenues
LONDON, 20th of December, 2018 – Flexion Mobile Plc (Nasdaq: FLEXM), the London-based Android games distribution company today closed the biggest deal in its company history with one of the top mobile entertainment producers for four blockbuster titles.
The agreement is a major breakthrough and part of Flexion’s go-to-market strategy. The distribution agreement with the leading mobile games publisher covers three top-tier titles and one mid-tier title. Flexion will distribute these titles in all its main channels including Amazon and Samsung.
As part of the deal Flexion will guarantee up to USD 4.6 million to the publisher for the four titles and the company expects to generate significantly more from the deal over time. As a reference, Flexion reported USD 2.6 million in revenues for the last financial year. The guarantee covers a minimum of 12 months distribution and revenue for each title. The first three games are expected to start generating revenue to Flexion in December and the fourth game towards the end of the last financial quarter. As an incentive, the agreement also includes a partial revenue share reduction on an existing game and this is expected to impact margins in the short term.
“This is a massive milestone for Flexion and it clearly shows that our distribution model attracts the absolute top players in the market. It also shows the market how serious we are about the future of new game distribution and it firmly positions us as the leader in this space" says Jens Lauritzson, CEO of Flexion Mobile Plc.
The publisher who works with developers worldwide focuses on turning well known IP into successful mobile games titles and have succeeded in producing several blockbusters firmly positioned in the top grossing charts.
In November, Flexion announced its mid-term vision to launch 100 titles - one third being top-tier and two thirds mid-tier games. Top-tier games are expected to generate more than 100,000 USD per month and mid-tier games more than 30,000 USD to Flexion.
For more information:
Niklas Koresaar, CFO, Email: firstname.lastname@example.org. 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 December 20, 2018.
About Flexion Mobile Plc: www.flexionmobile.com
Flexion makes it easy for developers to maximise the growth potential of their Android games. The company offers as a distribution platform for free-to-play Android games. Flexion's unique service offering has solved a distribution problem for developers and at the core of Flexion's patented technology is the enabling and enhancement software that lets developers distribute one version of their game in multiple channels. As a result, game developers can reach new channels without having to make any changes to the game code. Flexion is integrated with global stores such as Amazon and Samsung and leading regional distribution channels in India, South Korea and Japan. Flexion Mobile Plc is listed on Nasdaq First North, ticker name: FLEXM. Certified Adviser is FNCA Sweden AB.