Starbreeze AB: Starbreeze acquires the full rights to the PAYDAY-franchise with an installed base of 14 million users
(Thomson Reuters ONE) -
STOCKHOLM (May 30, 2016) - Starbreeze AB, an independent creator, publisher and
distributor of high quality entertainment products, today announced its
agreement with 505 Games to acquire the full rights to the PAYDAY-franchise. The
consideration for the acquisition amounts to 10.9 million B-shares in
Starbreeze, equivalent to 30 MUSD (approx. 249 MSEK).
After the transaction Starbreeze will own the full rights to the PAYDAY-
franchise for any future developments or commercialization, including PAYDAY 2
and PAYDAY for mobile platforms. Starbreeze will retain full net revenue from
PAYDAY 2 on the Steam platform starting retroactively from May 1st,2016. Revenue
generated by the console game PAYDAY 2: Crimewave Edition will continue to be
split between the companies as before, and 505 Games will continue to publish
the title.
Furthermore, 505 Games will retain a 33% revenue share of Starbreeze's net
revenues from future sales of PAYDAY 3 capped at 40 MUSD, and after Starbreeze
has fully recouped its development and marketing costs.
It's Starbreeze assessment that the price of 30 MUSD will be matched by
corresponding revenues on the Payday franchise until such time Payday 3 is
released in the future. Given the strategic value for Starbreeze to control its
hit franchise it is both in the short and long term a sound investment.
"PAYDAY is very close to my heart, and has laid the foundation for Starbreeze
success in recent years. We're very excited to bring our heisters home to the
safe house," said Bo Andersson Klint, Starbreeze CEO. "To start with, we believe
in the continued success of PAYDAY 2 and will support it for at least another
18 months continuing expanding the game."
The 10 934 211 million new B shares will, post transaction, represent 4.3% of
shares and 1.4% of votes and will be issued under authority from the AGM. After
the issue, the total number of B-shares in Starbreeze is 196 832 410 and the
total number of shares in Starbreeze 254 298 338.
First launched in 2011, PAYDAY is a cooperative first-person shooter computer
and video game franchise with more than 14 million players on PC, PlayStation
3, PlayStation 4, Xbox 360, XboxOne and SteamOS platforms.
###
More information:
Maeva Sponbergs, EVP Communication and Head of Investor Relations, Starbreeze AB
Tel: +46(0)8-209 208, email: ir(at)starbreeze.com
About Starbreeze:
Starbreeze is an independent creator, publisher and distributor of high quality
entertainment products. With studios in Stockholm, Paris and Los Angeles, the
company creates games and other virtual reality entertainment products, based on
proprietary design and licensed content. Starbreeze's most recent games include
PAYDAY 2, the adrenaline fueled bank robbing co-op game and the upcoming John
Wick VR shooter and survival co-op FPS OVERKILL's The Walking Dead.
Starbreeze has set out to develop truly immersive virtual reality experiences,
by integrating software and hardware in its StarVR head mounted display, to be
produced together with Acer, displaying a unique field of vision and a mission
to bring top-end VR to large audiences. Starbreeze launched StarVR with a VR-
experience at the Electronic Entertainment Expo (E3) in June 2015, gained by
teaming up with French Infinite Eye. In January 2016, Starbreeze unveiled the
StarCade initiative; centers that invites people to immerse themselves into
premium VR experiences. The first cinematic VR experience "Cockatoo Spritz"
directed by Stephane Barbato, premiered at the 69(th) Cannes Film Festival 2016.
Headquartered in Stockholm, Sweden, Starbreeze's shares are listed on Nasdaq
Stockholm First North Premier under the tickers STAR A and STAR B with the ISIN-
codes SE0007158928 (A-share) and SE0005992831 (B-share). Remium Nordic is the
company's Certified Adviser. For more information, please visit
http://www.starbreeze.com, http://www.starvr.com,
http://www.overkillsoftware.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Starbreeze AB via GlobeNewswire
[HUG#2016564]
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