Starbreeze AB acquires Geminose Inc.
Starbreeze AB, an independent creator, publisher and distributor of computer and video games, announced today that the acquisition of Geminose Inc. has closed with Starbreeze acquiring Geminose for $7 million USD in Starbreeze shares, valued at the share price per closing date of the transaction.
Pressrelease for download: 2014-09-10 Press Release Starbreeze AB acquires Geminose Inc.
The acquisition of Geminose Inc. will strengthen Starbreeze’s range of IP’s further to include a youth targeted franchise, “Geminose”. The Geminose franchise combines physical toys and interactive multiplatform gameplay for youths aged 5-12. Utilizing proprietary technology, Geminose will establish its own strong position in the interactive toy/computer games market.
“I’m happy to announce that the deal has closed. Geminose will be a valuable addition to the Starbreeze portfolio, expanding and diversifying our Intellectual Properties and product-range. We’re very excited to tell you more about the franchise throughout its development during 2015/2016”, said Bo Andersson Klint, CEO of Starbreeze AB.
Geminose has been acquired for $7 million USD in Starbreeze shares, valued at the share price per closing date of the transaction. 4 606 778 new shares will be issued by the board utilizing its authorization from the AGM, which corresponds to approximately 3.0% of the share capital on a fully diluted basis. In addition to the shares, the sellers of Geminose Inc. could potentially get additional cash compensation based on positive results generated to Starbreeze from the Geminose IP over a five-year period amounting to a maximum of $10 million USD.
For more information please contact:
Bo Andersson Klint, CEO, Starbreeze AB
Tel: +46(0)8-209 208, email: ir@starbreeze.com
Brief information about Starbreeze:
Starbreeze is an independent creator, publisher and distributor of high quality entertainment products, headquartered in Stockholm, Sweden. At Starbreeze we create games by our own design and through licensed content, establishing franchises that can live and prosper outside the game itself. We live and die by gameplay.
Starbreeze is pioneering digital self-publishing, currently hosting one of the largest community groups on the digital distribution platform Steam. Starbreeze’s most recent products include PAYDAY 2, our adrenaline fuelled bank robbing co-op game and the critically acclaimed adventure game Brothers –A Tale of Two Sons.
Starbreeze AB is publicly traded on Nasdaq OMX First North Premier under the ticker STAR and the ISIN code: SE0005992831. Starbreeze's brands include OVERKILL Software and the PAYDAY series.
See www.www.starbreeze.com for more information.
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