THQ Nordic Acquires Timesplitters

Total Page:16

File Type:pdf, Size:1020Kb

THQ Nordic Acquires Timesplitters Press release Karlstad, Sweden, August 15, 2018 THQ Nordic acquires Timesplitters THQ Nordic today announced the acquisition of the video game trilogy Timesplitters. Timesplitters was largely considered as one of the most influential console games of the early 2000’s. The three game series earned a large and passionate fan base thanks to its unique humour, art style and pop culture references while encouraging customization and modification to give each person their own individual experience. Timesplitters was originally created by the development studio Free Radical Design that later become Deep Silver Dambuster, part of the THQ Nordic group. In addition to Timesplitters, the IP and the rights to science fiction action-adventure game Second Sight were acquired. Both acquisitions were made through THQ Nordic’s fully owned subsidiary Koch Media GmbH. For additional information, please contact: Lars Wingefors, Founder and CEO Tel: +46 708 471 978 E-mail: [email protected] About THQ Nordic THQ Nordic acquires, develops and publishes PC and console games for the global games market. The company has an extensive catalogue of over 100 owned franchises, such as Saints Row, Dead Island, Homefront, Darksiders, Metro (exclusive license), Titan Quest, MX vs ATV, Red Faction, Delta Force, Destroy All Humans, ELEX, Biomutant, Jagged Alliance, SpellForce, The Guild amongst others. THQ Nordic has a global publishing reach within marketing, sales and distribution, both online and offline. The company has a global presence, with its group head office located in Karlstad, Sweden and with operational offices in Vienna, Austria and Munich, Germany. The group has eleven internal game development studios based in Germany, UK, USA and Sweden and engages almost 1,750 people. THQ Nordic’s shares are publicly listed on Nasdaq First North Stockholm under the ticker THQNB:SS with FNCA Sweden AB as its Certified Adviser. For more information, please visit: http://www.thqnordic-investors.com .
Recommended publications
  • View Portfolio Document
    games assets portfolio FULL GAME CREDITS ACTIVISION InXILE Starbreeze Call of Duty: Ghosts Heist The walking dead Call of Duty: Advanced Warfare Call of Duty: Black Ops 3 IO INTERACTIVE SQUARE ENIX Call of Duty: Infinity Warfare Hitman: Absolution Bravely Default BIOWARE KABAM THQ Dragon Age: Inquisition Spirit Lords Darksiders Saints Row 2 CRYSTAL DYNAMICS KONAMI Tomb Raider 2013 Silent Hill: Shattered Memories TORUS Rise of the Tomb Raider Barbie: Life in the Dreamhouse MIDWAY Falling Skies: Planetary Warfare ELECTRONIC ARTS NFL Blitz 2 How to Train Your Dragon 2 DarkSpore Penguins of Madagascar FIFA 09/10/11/12/13/14/15/16/17/18/19 PANDEMIC STUDIOS Fight Night 4 The Sabateur VICIOUS CYCLE Harry Potter – Deathly Hallows Part 1 & 2 Ben 10: Alien Force NBA Live 09/10/12/13 ROCKSTAR GAMES Dead Head Fred NCAA Football 09/10/11/12/13/14 LA Noire NFL Madden 11/12/13/14/15 / 18 Max Payne 2 2K NHL 09/10/11/12/13/16/17/18 Max Payne 3 NBA 2K14/15 Rory Mcilroy PGA Tour Red Dead Redemption Tiger Woods 11/12/13 Grand Theft Auto V 505 GAMES Warhammer Online: Age of Reckoning Takedown (Trailer) UFC 1/ 2 /3 SONY COMPUTER ENTERTAINMENT NFS – Payback God of War 2 EPIC GAMES Battlefield 1 In the name of Tsar Sorcery Gears of War 2 Killzone: Shadow Fall UBISOFT Assassin’s Creed GAMELOFT Starlink Asphalt 9 Steep Rainbow 6 KEYFRAME ANIMATION ASSET CREATION MOCAP CLEANUP LIGHTING FX UBISOFT Assassin Creed Odyssey UBISOFT UBISOFT Assassin Creed Odyssey UBISOFT Assassin Creed Odyssey UBISOFT Assassin Creed Odyssey UBISOFT Assassin Creed Odyssey Electronic Arts
    [Show full text]
  • Redeye-Gaming-Guide-2020.Pdf
    REDEYE GAMING GUIDE 2020 GAMING GUIDE 2020 Senior REDEYE Redeye is the next generation equity research and investment banking company, specialized in life science and technology. We are the leading providers of corporate broking and corporate finance in these sectors. Our clients are innovative growth companies in the nordics and we use a unique rating model built on a value based investment philosophy. Redeye was founded 1999 in Stockholm and is regulated by the swedish financial authority (finansinspektionen). THE GAMING TEAM Johan Ekström Tomas Otterbeck Kristoffer Lindström Jonas Amnesten Head of Digital Senior Analyst Senior Analyst Analyst Entertainment Johan has a MSc in finance Tomas Otterbeck gained a Kristoffer Lindström has both Jonas Amnesten is an equity from Stockholm School of Master’s degree in Business a BSc and an MSc in Finance. analyst within Redeye’s tech- Economic and has studied and Economics at Stockholm He has previously worked as a nology team, with focus on e-commerce and marketing University. He also studied financial advisor, stockbroker the online gambling industry. at MBA Haas School of Busi- Computing and Systems and equity analyst at Swed- He holds a Master’s degree ness, University of California, Science at the KTH Royal bank. Kristoffer started to in Finance from Stockholm Berkeley. Johan has worked Institute of Technology. work for Redeye in early 2014, University, School of Business. as analyst and portfolio Tomas was previously respon- and today works as an equity He has more than 6 years’ manager at Swedbank Robur, sible for Redeye’s website for analyst covering companies experience from the online equity PM at Alfa Bank and six years, during which time in the tech sector with a focus gambling industry, working Gazprombank in Moscow he developed its blog and on the Gaming and Gambling in both Sweden and Malta as and as hedge fund PM at community and was editor industry.
    [Show full text]
  • Exploration in a Reverse-RPG
    Exploration in a Reverse-RPG Robogeddon, a Casual Real-Time Strategy Game A Major Qualifying Project Report submitted to the Faculty of the Worcester Polytechnic Institute in partial fulfillment of the requirements of the Degree of Bachelor of Science On April 28th, 2010 Submitted By: Riley Brown, Sean Crepeau, Karl Gibson, Adam Pastorello, Philip Tang, and Ian Williams Advised By: Professor Joseph Farbrook, Professor Jennifer deWinter and Professor Joseph Beck Exploration in a Reverse RPG – Robogeddon, a Casual Real-Time Strategy Game Abstract This report discusses the design, implementation, and analysis of Robogeddon, a casual real-time- strategy game for the PC, and was created as a WPI MQP for the computer science, interactive media and game development, and professional writing majors. Players in Robogeddon have the unique experience of taking on the role of an overwhelming agent of destruction, in contrast to the typical heroic archetype of many role-playing-games. Robogeddon incorporates “tried and true” elements from classic RTS games, as well as unique new features to attract more casual gamers. This report details the designers’ vision, in terms of artistic style and theme, as well as gameplay and the player experience. Additionally, the report will describe the approach to implementation and the challenges therein. Finally, the creators of Robogeddon describe the lessons learned from the process, and advice to future teams at WPI and beyond. 2 Exploration in a Reverse RPG – Robogeddon, a Casual Real-Time Strategy Game Acknowledgements We would like to extend our deepest gratitude to Professors Farbrook, deWinter, and Beck for their continual guidance in bringing our vision to life.
    [Show full text]
  • 25 Jahre Koch Media – Ein Jubiläum (PDF Download)
    25 JAHRE KOCH MEDIA - EIN JUBILÄUM Während Unternehmen in manch anderen Branchen mit 25 Und so ist die Entwicklung von Koch Media in den vergange- Jahren noch zu den Newcomern zählen würden, ist diese nen 25 Jahren auch ein Mutmacher: Sie zeigt, dass man mit Zeitspanne in der Entertainment-Branche kaum zu überbli- der Entwicklung und dem Vertrieb von Games auch in und cken. Zu schnell kommen und gehen Trends und mit ihnen aus Deutschland heraus enorm erfolgreich sein kann. häufig auch ganze Unternehmen. Das gilt ganz besonders für die Games-Branche, die zwar seit vielen Jahren stark Koch Media hat sich in den vergangenen 25 Jahren zu einem wächst, deren dynamische Entwicklung aber selbst Bran- integralen Bestandteil der deutschen Games-Branche ent- chen-Urgesteine von Zeit zu Zeit überfordert. Das 25-jähri- wickelt. Als Gründungsmitglied des BIU – Bundesverband ge Jubiläum von Koch Media ist daher ein Meilenstein, der Interaktive Unterhaltungssoftware und mit Dr. Klemens Kun- gar nicht hoch genug geschätzt werden kann. dratitz als aktivem Vorstand des Verbandes hat sich Koch Media immer für die Themen der Branche und die Weiter- Die Erfolgsgeschichte von Koch Media ist auch mit dem entwicklung der gamescom engagiert. Seit vielen Jahren ist Blick auf ihren Entstehungsort einmalig. Die Geschichte der Koch Media Partner von Spiele-Entwicklern in Deutschland deutschen Games-Branche ist sehr wechselhaft, nur wenige wie aktuell von King Art oder hat eigene Studios wie Deep Unternehmen schaffen es über viele Jahre, hier Games zu Silver Fishlabs. Doch darf man das Unternehmen nicht nur entwickeln und zu verlegen. Das Image von Games hat sich auf seine Rolle in Deutschland beschränken: Mit Niederlas- erst in den vergangenen Jahren verbessert und war zuvor sungen in allen europäischen Kernmärkten, in Nordamerika allzu lange von Klischees bestimmt.
    [Show full text]
  • Announcement from Embracer Group's Extra General Meeting
    Press release Stockholm, 16 November 2020 Announcement from Embracer Group's extra general meeting The extra general meeting of Embracer Group AB ("Embracer" or the "Company") was held today on 16 November 2020 in Stockholm and the following resolutions were passed by the meeting. Authorisation for the board to issue shares, convertibles and/or warrants The extra general meeting resolved, in accordance with the board of directors' proposal, to authorize the board of directors during the period up until the next annual general meeting to, on one or more occasions, resolve to issue B shares, convertibles and/or warrants with right to convert into and subscribe for B shares respectively, with or without preferential rights for the shareholders, in the amount not exceeding ten (10) percent of the total number of shares in the Company at the time when the authorization is used the first time, to be paid in cash, in kind and/or by way of set-off. The purpose for the board to resolve on issuances with deviation from the shareholders preferential rights in accordance with the above is primarily for the purpose to raise new capital to increase the flexibility of the Company or in connection with acquisitions. In connection with issuances in accordance with the above, the board of directors shall, when determining the number of shares, warrants or convertibles that may be issued pursuant to the authorization, consider and deduct the number of shares the Company holds itself at every given time after any possible reclaim of shares that have been issued in connection with acquisitions.
    [Show full text]
  • Embracer Group Acquires Easy Trigger
    Press release Karlstad, Sweden, 5 August 2021 Embracer Group acquires Easy Trigger Embracer Group AB (“Embracer”) through its wholly owned subsidiary Coffee Stain Studios AB ("Coffee Stain"), have entered into an agreement to acquire 100 percent of the shares in Easy Trigger AB ("Easy Trigger"), the studio behind the critically acclaimed title Huntdown. “We have worked with Easy Trigger for a couple of years already on the Huntdown game and are impressed with talent within the studio. We will continue to work closely with the team and are excited welcome them into the Embracer family”, says Anton Westbergh, Co-founder and CEO Coffee Stain. Background and rationale Easy Trigger is a development studio founded in 2016, with headquarters located in Trollhättan, Sweden. The studio consists of 5 employees that have collaborated with Coffee Stain on the development and release of the critically acclaimed indie title Huntdown. Easy Trigger is led by co-founder and CEO Tommy Gustafsson, and co- founder and lead programmer Andreas Renberg. The company was wholly owned by the two co-founders who will remain in their current roles post-transaction. Through the acquisition, Coffee Stain onboards a talented team that will boost the development of 1st party IP within the group. Going forward, Easy Trigger will collaborate with Coffee Stain to continue working on the Huntdown IP as well as creating new original indie titles. “We look forward to continuing our partnership with Coffee Stain and further leverage the knowledge and experience within the entire Embracer Group, to accelerate growth within Easy Trigger and continue to make great games” says Tommy Gustafsson, Co-founder and CEO Easy Trigger.
    [Show full text]
  • OPERATIONAL EBIT INCREASED 217% to SEK 396 MILLION
    THQ NORDIC AB (PUBL) REG NO.: 556582-6558 EXTENDED FINANCIAL YEAR REPORT • 1 JAN 2018 – 31 MAR 2019 OPERATIONAL EBIT INCREASED 217% to SEK 396 MILLION JANUARY–MARCH 2019 JANUARY 2018–MARCH 2019, 15 MONTHS (Compared to January–March 2018) (Compared to full year 2017) > Net sales increased 158% to SEK 1,630.5 m > Net sales increased to SEK 5,754.1 m (507.5). (632.9). > EBITDA increased to SEK 1,592.6 m (272.6), > EBITDA increased 174% to SEK 618.6 m (225.9), corresponding to an EBITDA margin of 28%. corresponding to an EBITDA margin of 38%. > Operational EBIT increased to SEK 897.1 m > Operational EBIT increased 217% to SEK 395.9 m (202.3) corresponding to an Operational EBIT (124.9) corresponding to an Operational EBIT margin of 16%. margin of 24%. > Cash flow from operating activities amounted > Cash flow from operating activities amounted to SEK 1,356.4 m (179.1). to SEK 777.2 m (699.8). > Earnings per share was SEK 4.68 (1.88). > Earnings per share was SEK 1.10 (1.02). > As of 31 March 2019, cash and cash equivalents were SEK 2,929.1 m. Available cash including credit facilities was SEK 4,521.1 m. KEY PERFORMANCE INDICATORS, Jan-Mar Jan-Mar Jan 2018- Jan-Dec GROUP 2019 2018 Mar 2019 2017 Net sales, SEK m 1,630.5 632.9 5,754.1 507.5 EBITDA, SEK m 618.6 225.9 1,592.6 272.6 Operational EBIT, SEK m 395.9 124.9 897.1 202.3 EBIT, SEK m 172.0 107.3 574.6 188.2 Profit after tax , SEK m 103.0 81.1 396.8 139.2 Cash flow from operating activities, SEK m 777.2 699.8 1,356.4 179.1 Sales growth, % 158 673 1,034 68 EBITDA margin, % 38 36 28 54 Operational EBIT margin, % 24 20 16 40 Throughout this report, the extended financial year 1 January 2018 – 31 March 2019 is compared with the financial year 1 January – 31 December 2017.
    [Show full text]
  • Embracer Group
    Update Equity Research 2 December 2019 Embracer Group Sector: Gaming Unmotivated share price drop FAIR VALUE RANGE BEAR BASE BULL Beating estimates, again 60.0 100.0 125.0 Embracer crushed our estimates during FY’Q2, the top-line came in 25% above forecast, and Operational EBIT showed a 53% beat. As expected, there was a significant decline in volumes within Partner Publishing, so on an annual basis, the net sales were down 1%. EMBRAC.ST VERSUS OMXS30 However, the Gross profit grew by almost 66%, thanks to the uptake in Games revenue. The OMXS 30 Operational EBIT margin came in at 19% compared to our estimate of 16%. On a trailing- Embracer Group 10.0 twelve -month basis, Embracer has produced almost SEK 2bn in cash flow from operations and continues to show a high cash conversion ratio. 8.0 6.0 Investing for the future 4.0 Embracer continues to invest in its pipeline, and the game investments amounted to SEK 2.0 343m during the quarter. The company now has 86 projects in development, where we 0.0 know that at least two are AAA projects that are expected to be released during the next 03-dec 03-mar 01-jun 30-aug 28-nov financial year. The ratio between released games and ongoing development projects on the balance sheet now amounts to 4x; in other words, continued growth is to be expected. REDEYE RATING Shenmue III was released on the 19th of November. The early user reviews indicate strong receptions from fans but mixed from critics.
    [Show full text]
  • THQ Nordic AB (Publ) Acquires Koch Media
    THQ Nordic AB (publ) acquires Koch Media Investor Presentation February 14, 2018 Acquisition rationale AAA intellectual property rights Saints Row and Dead Island Long-term exclusive licence within Games for “Metro” based on books by Dmitry Glukhovsky 4 AAA titles in production including announced Metro Exodus and Dead Island 2 2 AAA studios Deep Silver Volition (Champaign, IL) and Deep Silver Dambuster Studios (Nottingham, UK) #1 Publishing partner in Europe for 50+ companies Complementary business models and entrepreneurial cultural fit Potential revenue synergy and strong platform for further acquisitions EPS accretive acquisition to THQ Nordic shareholders 2 Creating a European player of great scale Internal development studios1 7 3 10 External development studios1 18 8 26 Number of IPs1 91 15 106 Announced 12 5 17 Development projects1 Unannounced 24 9 33 Headcount (internal and external)1 462 1,181 1,643 Net sales 2017 9m, Apr-Dec SEK 426m SEK 2,548m SEK 2,933m2 Adj. EBIT 2017 9m, Apr-Dec SEK 156m SEK 296m3 SEK 505m2,3 1) December 31, 2017. 2) Pro forma. 3) Adjusted for write-downs of SEK 552m. Source: Koch Media, THQ Nordic 3 High level transaction structure THQ Nordic AB (publ) Koch Media Holding GmbH, seller (Sweden) (Germany) Purchase price EUR 91.5m 100% 100% SALEM einhundertste Koch Media GmbH, Operations Holding GmbH operative company (Austria) 100% (Austria) Pre-transaction Transaction Transaction information . Purchase price of EUR 91.5m – EUR 66m in cash paid at closing – EUR 16m in cash paid no later than August 14, 2018 – EUR 9.5m in shares paid no later than June 15, 2018 .
    [Show full text]
  • THQ Nordic Acquires Coffee Stain
    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. Press release Karlstad (Sweden), November 14, 2018 THQ Nordic acquires Coffee Stain THQ Nordic AB today has entered into agreement to acquire Coffee Stain Holding AB including 100 percent of its subsidiary Coffee Stain Publishing AB. Coffee Stain is a leading game developer and publisher with a growing footprint in the Nordics. The acquisition includes Intellectual property rights to Satisfactory, Goat Simulator, Sanctum and publishing rights to Deep Rock Galactic. The initial cash consideration is equivalent to SEK 317 million on a cash and debt free basis, plus additional earn-out considerations subject to fulfilment of agreed milestones. THQ Nordic estimates Coffee Stain will have net sales in the range of SEK 200-250 million and EBT in the range of SEK 100-150 million in the next financial year. "We are creating a complementary digital native pillar to THQ Nordic. Coffee Stain is a passionate and highly competent team creating and publishing great games. After some years without major releases the pipeline of new game releases such as Satisfactory and Deep Rock Galactic look strong. I look forward to work together with Anton Westbergh and his team in the future" says Lars Wingefors, CEO THQ Nordic. The transaction in brief • THQ Nordic AB ("THQ Nordic" or the "Company") acquires 100 percent of the shares in both Coffee Stain Holding AB ("CSH") and Coffee Stain Publishing AB ("CSP") (CSH and CSP jointly referred to as "Coffee Stain").
    [Show full text]
  • Weekly News Digest #47
    INVESTGAME Nov 16 — Nov 22, 2020 Weekly News Digest #47 Hi everyone, Last week we decided to create the archive of the weekly newsletter for your convenience — click here to access it. Roblox to go public on the New York Stock Exchange CA­based video game platform Roblox has filed its S­1 registration documents targeting an IPO on NYSE before the end of this year. Roblox has neither disclosed the sum it’s planning to raise, nor the valuation of the company. Founded in 2004, Roblox Corporation has raised $335.9m investments over the course of 8 rounds with the most recent Series G round closed in Feb 2020 — raising $150m at a $4B post­money valuation. Just eight months later in Oct 2020, Roblox’s rumored potential IPO valuation was said to be $8B. Such an impressive valuation enhancement could be explained by the strong demand for entertainment content due to COVID­19 and shelter­in­place orders (Roblox’s DAUs increased by 90% from 19.1m in Q4’19 to 36.2m DAU in Q3’20). The company’s financial results over the last twelve months ending 30 Sep 2020 are: > $1,477m Bookings vs. $727m Revenue — Roblox gradually recognizes revenue over the average lifetime of a paying user; > ($245m) Loss from operations vs. +$301m Free cash flow. Roblox is an operationally profitable business (taking into account bookings numbers), and we consider the rumored $8B as a probable valuation at IPO. The valuation multiples in such case would be 5.4x Bookings, 11.0x Revenue, and 27x Free cash flow.
    [Show full text]
  • THQ Nordic (THQNO.ST)
    COMPANY ANALYSIS 1 March 2018 Summary THQ Nordic (THQNO.ST) List: Power-up! Market Cap: 11,190 MSEK The company had an immense release schedule with loads of Industry: Gaming new content during the quarter. The reported numbers beat CEO: Lars Wingefors Chairman: Kicki Wallje-Lund our estimates. Even though that THQ Nordic produced a record quarter, the thing stole the spotlight was the announcement of the acquisition of Koch Media; we get into OMXS 30 THQ Nordic detail about the acquired company in this research update. 160 The acquisition is a prime example of THQ Nordic’s 140 acquisition strategy. We believe that the market is yet to fully 120 100 grasp the underlying value and cash flow generating 80 capabilities of THQ Nordic’s growing IP portfolio, which was 60 enhanced significantly by the acquirement. 40 20 We raised our Base-case valuation to 140 SEK per share 0 28-Feb 29-May 27-Aug 25-Nov 23-Feb based on a Back-Of-The-Envelope assessment on the same day as the acquisition. Following a more in-depth analysis, we increase our fair value estimate further to 168 SEK per share. We argue that the new addition to the Group was acquired at a low price and that the long-term possibilities following the purchase are vast. Redeye Rating (0 – 10 points) Management Ownership Profit outlook Profitability Financial strength 8.0 points 9.0 points 7.0 points 6.0 points 8.0 points Key Financials 2016 2017 2018E 2019E 2020E Share information Revenue, MSEK 302 508 3,666 3,909 4,300 Share price (SEK) 141.0 Growth 42% 68% 622% 7% 10% Number of shares (m) 79.4 EBITDA 132 273 929 1,009 1,212 Market Cap (MSEK) 11,190 EBITDA margin 44% 54% 25% 26% 28% Net cash (MSEK) 255 EBIT 95 188 616 696 849 Free float (%) 50 % EBIT margin 31% 37% 17% 18% 20% Daily turnover (’000) 60 Pre-tax earnings 93 182 616 696 849 Net earnings 72 139 480 543 662 Net margin 24% 27% 13% 14% 15% Analysts: Kristoffer Lindstrom 2016 2017 2018E 2019E 2020E [email protected] Dividend/Share 0.00 0.00 0.00 0.00 2.50 2016 2017 2018E 2019E 2020E EPS adj.
    [Show full text]