35-2018 Hugo Games completes acquisition of Sacramento-based community game specialist 5th Planet Games
COPENHAGEN, October 1st, 2018: Hugo Games (OMX: HUGO) is pleased to announce
that it has completed the acquisition of Sacramento-based 5th Planet Games - a
leading developer of community based social games and one of the best-selling
game developers on the Kongregate publisher platform ever.The final price of the acquisition is $737,000 USD, which is slightly less than
the initial estimates. As mentioned in the announcement on September 13th, 2018,
Hugo Games will use existing liquidity to buy 5th Planet Games. Because the
acquisition is based on already available funds it will not cause any dilution
for the existing shareholders.It will cost an additional $160,000 USD to bring the upcoming sequel to the
popular mobile game “Dawn of the Dragons” to market in Q2 2019. This money will
also come from already available funds.Hugo Games has high expectations regarding the upcoming game. One reason is that
its precursor grossed revenues of $27.7 million USD. Another reason is that the
Hugo Games management has seen the new game and is highly impressed.5th Planet Games has four games in its current portfolio. The games are “Tap Cat
9 Lives,” “Age of Heroes,” “Curio Quest” and “Dawn of the Dragons.” The present
revenue of these titles is $800,000 USD per year, which will now come on top of
Hugo Games current revenue.However, the acquisition is not only based on expectations for the upcoming game
and extra revenue. Hugo Games’ CEO Henrik Nielsen emphasizes that the knowhow
and talent of the 5th Planet Games team of 15 very experienced full-stack game
developers gives the new and combined company a wide array of extremely valuable
assets.“The important point is that the 5th Planet Games crew are experts in the type
of mobile games known as community-based games,” says Henrik Nielsen.“They have proved that they are able to create a high degree of retention and,
even more importantly, they are able to monetarize on them and earn money. This
basically means that they have the knowhow to maintain their customers and make
them deliver a steady income. That’s an important and valuable ability which
supplements Hugo Games perfectly.”The 5th Planet Games founder, Robert Winkler, will continue as Studio Lead of
the Sacramento office.About Hugo Games
Hugo Games is a mobile games publisher and developer located in Copenhagen and
Nottingham. At Hugo Games we are honoured to cooperate with strong IPs as The
Adventures of Tintin and premium sports brands as FC Barcelona, Liverpool FC and
Paris St. Germain – as well as soccer star Cristiano Ronaldo and skater icon
Nyjah Huston. We are proud to expand the world of television hit series Vikings
– and we are thrilled to produce the official sequel to the legendary Doodle
Jump. For more information see www.hugogames.com or contact Hugo Games CEO
Henrik Nielsen +45 27 200 200Ekstern link: http://www.newsweb.no/index.jsp?messageId=460430
Nyheten er levert av OBI.
http://www.netfonds.no/quotes/release.php?id=20181001.OBI.20181001S36
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