G5 acquires Nightmares from the Deep and Kate Malone from Artifex Mundi
G5 Entertainment informs that today the company signed a contract (“Agreement”) with Artifex Mundi S.A under which G5 purchases the ownership of all rights to the games Nightmares from the Deep®: A Hidden Object Adventure and Kate Malone: Hidden Object Detective ("Games"). G5 Entertainment will pay a fixed part in the amount of USD 600,000, payable in four installments through the end of 2018.
The purchase agreement also includes a variable part based on the performance of the Games, with an upper limit on such variable payments of USD 500,000, and additional standard terms and conditions consistent with industry standards, including a noncompete clause with regard to free-to-play games in the hidden object genre, similar to the content purchased.
For G5 Entertainment the acquisition is another step to consolidate the ownership of the games in the portfolio. With G5’s knowledge of the genre of hidden object games, where the company is the world leader, the company is confident that it can improve the game’s performance and deliver value to the shareholders.
For further information, please contact:
Vlad Suglobov, CEO, email@example.com
Stefan Wikstrand, CFO, +46 76 00 11 115
About G5 Entertainment
G5 Entertainment AB (publ) (G5) is Sweden’s largest publicly listed game developer and publisher. G5 develops and publishes high quality free-to-play games for both smartphones and tablets that are family-friendly, easy to learn, and targeted at the widest audience of both experienced and novice players. The group distributes their games through the Apple, Google, Amazon, and Windows application stores. The company’s portfolio includes popular games like Hidden City®, Mahjong Journey®, Survivors: The Quest®, The Secret Society®, Pirates & Pearls (tm), and Twin Moons®.
Through its head entity G5 Entertainment AB (Publ), G5 Entertainment Group is publicly listed on Nasdaq Stockholm’s main market mid cap segment under trade symbol G5EN.ST. For the 5th year in a row, G5 Entertainment is ranked in Deloitte’s Top 500 Fastest Growing Tech Companies in Europe, the Middle East and Africa.