Brief: MTG Buys PlaySimple And Discloses Pro Forma Figures For Gaming Vertical

Modern Times MTG AB

02/07/2021 08:26

July 2 (Reuters) - Modern Times Group MTG AB  MTGb.ST :
    * MTG ACQUIRES LEADING WORD GAMES DEVELOPER PLAYSIMPLE AND
DISCLOSES PRO FORMA FIGURES FOR ITS GAMING VERTICAL
    * UP-FRONT CONSIDERATION AMOUNTS TO APPROXIMATELY SEK 3,090
MILLION
    * PERFORMANCE BASED EARN-OUT PAYMENTS AMOUNT TO AN EXPECTED
VALUE
OF SEK 1,287 MILLION IN AGGREGATE
    * WILL THROUGH ITS SUBSIDIARY MTG GAMING AB - REFERRED TO AS
'GAMINGCO' IN PREVIOUS MTG ANNOUNCEMENTS - ACQUIRE 100 % OF
SHARES IN PLAYSIMPLE
    * PLAYSIMPLE GREW ITS REVENUES BY 144 % IN 2020 CALENDAR
YEAR TO
SEK 706 MILLION
    * PLAYSIMPLE ESTIMATED H1 REVENUES OF SEK 510-540 MILLION
    * ACQUISITION  WILL SIGNIFICANTLY STRENGTHEN COMPANY'S
POSITION IN
CASUAL GAMES' GENRE AND ENABLE ACCESS TO FAST-GROWING WORD GAMES
GENRE
    * PLAYSIMPLE WILL STRENGTHEN MTG'S POSITION AMONGST FEMALE
GAMING
AUDIENCE WHILE ALSO ENABLING ACCESS TO TALENT POOL IN INDIA

Source text for Eikon:  ID:nWkr6HpLgM 
Further company coverage:  MTGb.ST 

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