Valletta, October 22, 2018: blockescence plc (WKN: MT0000580101; Symbol: BCK, “blockescence”) has together with it’s portfolio company gamigo AG acquired the major assets of Trion Worlds Inc.
Trion Worlds is a leading US gaming company with offices in Redwood City (California) and Austin (Texas) and has as publisher and developer, well known online and console MMO-games, such as Rift, Defiance, Trove and ArcheAge in it’s portfolio. The assets of the company have been acquired via an “Assignment for the Benefit of the Creditors” process, in which the buyer only buys those assets, with which he wishes to continue the business.
Blockescence has acquired the IP rights from Trion Worlds in its newly formed, fully owned technology and IP-subsidiary Padmapani GmbH. Portfolio company gamigo AG has acquired further assets, including the platform, takes over employees to operate the business and gets the full publishing rights of the games.
It is expected that the Trion Worlds acquisition will add on blockescence group level revenues of at least USD 18 million in 2019. Depending on the speed and success of restructuring and integration, management expects an additional EBITDA of USD 1 to 5 million, based on unlocking substantial synergies and economies of scale as proven in numerous acquisitions before.
The purchase price amounts to a low USD two-digit million amount (including possible earn-outs).
About blockescence plc:
blockescence is a strategic investment-holding, that focuses on a buy, build & sell strategy of fast growing companies in consolidating TMT Sectors. The blockescence portfolio companies are growing via acquisitions and organic growth and new technologies are actively used to create USP’s and further efficiency within the portfolio companies. An example is the implementation and roll-out of distributed ledger technology (DLT or blockchain-technology) to create competitive advantages in the Portfolio Companies.
blockescence is based in Valletta (Malta), has subsidiaries in Switzerland and Germany and is listed on the Frankfurt Stock Exchange as well as on XETRA.
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of blockescence or its affiliated companies. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of blockescence and its affiliated companies and the estimates given here. Neither blockescence nor its affiliated companies assume any liability to update these forward- looking statements or to adapt them to future events or developments.
For further information please contact:
Phone: +49 611 205 855-22
St. Christopher Street 168
Valletta VLT 1467