23.10.2018: blockescence plc acquires US-publisher and game developer Trion Worlds Inc.
Tuesday, October 23, 2018 — blockescence plc acquires US-publisher and game developer Trion Worlds Inc.
- blockescence strengthens its portfolio company gamigo AG by acquiring leading US-publisher and game developer Trion Worlds, Inc.
- Successful integration will strengthen gamigo AG’s position as a leading European and American gaming company
- Through substantial synergies with the group’s existing business the Trion Worlds acquisition harbours potential for significant increase in revenue and EBITDA
Valletta, October 23, 2018: blockescence plc (WKN: MT0000580101; Symbol: BCK, “blockescence”), the first public direct investment company focusing on fast growing and consolidating portfolio companies in the TMT sector, successfully acquired Trion Worlds, Inc. (“Trion”), a leading American publisher and game developer. Trion’s portfolio consists of massive multiplayer online games for consoles and PC, including well-known titles such as Rift, Defiance, Trove and ArcheAge. The company’s offices are based in Redwood City, California, and Austin, Texas.
Trion is 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. In this process, blockescence acquires the intellectual property rights from Trion via its newly formed, fully owned technology and IP-subsidiary Padmapani GmbH. blockescence’s 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 Trion-games.
“The successful acquisition and subsequent integration of Trion into our portfolio substantially strengthens gamigo AG’s position in the European and American gaming market. On the one hand, we add similar and successful brands and games to the already broad gamigo portfolio, on the other hand, we are looking to unlock substantial synergies with the group’s existing business to benefit from the remarkable growth potential that the gaming market offers.”, comments blockescence CEO Remco Westermann.
Through the acquisitions of Trion, blockescence’s management expects additional revenues of over USD 18 million and an additional EBITDA of USD 1 to 5 million in 2019. This assessment depends on the success of the restructuring and integration of Trion − and is based primarily on potential economies of scale and synergies. The exploitation of economies of scale and synergies is an elementary part of the blockescence business model. Especially the portfolio company gamigo AG has proven in the past that it is able to significantly improve the profitability of acquired companies.
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 acquisi-tions and organic growth and new technologies are actively used to create USPs and further efficiency within the portfolio companies. An example is the implementation and roll-out of distributed ledger tech-nology (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, uncer-tainties 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.
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