Nacon rises on EUR 53 mln deal to buy German game developer Daedalic

Nacon SAS

17/02/2022 09:25

** Shares in Nacon  NACON.PA  rise 3.3% after the French
game maker agreed to buy Germany's Daedalic Entertainment
 urn:newsml:reuters.com:*:nASN0024U8
    ** The acquisition, set to be completed in 2022, will have a
maximum price of EUR 53 mln ($60.19 mln) 
    ** "This operation represents the biggest external growth
yet for Nacon," the French company said in a statement
    ** The two groups are already partners in the publishing of
"The Lord of the Rings: Gollum" game, expected in 2022
    ** "With this acquisition, the group is taking a big step in
its strategic plan," Midcap Partners says in a note
    ** "This news has the merit of consolidating our top line
scenario but also improving our margin expectations," the broker
adds
    ** The Nacon stock is broadly flat year-to-date

($1 = 0.8805 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))