blockescence: solidare's new investment focus
Tuesday, May 15, 2018 — PRESS RELEASE No. 1
- blockescence: solidare's new investment focus
- First Target: disrupt the online gaming industry by introducing blockchain technology
- First Acquistion: Samarion SE, the controlling shareholder of gamigo AG, one of Europe's leading online gaming companies
Valletta, 15 May 2018; blockescence (until renaming of the company still registered under solidare real estate holding plc; WKN: A1JGT0; ISIN: MT0000580101; Symbol: SRH; "blockescence") is explaining its new investment focus and strategy, that has the objective to generate accelerated and sustainable values for its shareholders:
1. Investment Focus and Process
blockescence focuses on implementing Distributed Ledger Technology (DLT or blockchain) in industries which can be disrupted by it. Through selecting the right industries, acquiring a key player in it, deploying DLT technology together with actively assuming operative management, we expand that company's market-position to unlock and build value for blockescence as investment company. The online-gaming industry has been identified as the first investment target, where the introduction of blockchain-based tools and processes solve substantial issues, omnipresent in the entire industry.
blockescence' value creation "tool box" consists of a technology, marketing and corporate finance section. The technology know-how comes from its collaboration with best-in-class advisors, as well as a team of in-house specialists. The marketing capability can rely on a strong in-house infrastructure, which ranges from one of the largest Youtube-influencer channel-specialists to various media-, advertising- and design-units. The corporate finance section consists of an experienced in-house team of specialists with a proven network of investors. blockescence' investment business is managed out of blockescence services AG, Zug, Switzerland, a full subsidiary.
Blockescence is one of the first direct investment companies that focuses on Distributed Ledger Technology to create value in its own portfolio companies. It follows a buy, improve and sell strategy.
Further information on www.blockescence.com.
2. Acquisition of Samarion SE
As a first step in implementing this blockchain centric investment strategy, blockescence has acquired 100% of the shares of Samarion SE, Düsseldorf, a holding company concentrating on game investments and holding over 50% of the voting rights and over 35% of the share-capital of gamigo AG, Hamburg ("gamigo"). Gamigo is one of the leading gaming companies, publishing and developing online and mobile games, with focus on Europe and America and over 100 million registered users. Gamigo has followed an aggressive growth path in recent years, consolidation more than 20 gaming companies. It has generated over EUR 40 million of revenues and over EUR 7 million of EBITDA in 2017 (preliminary non-audited figures), which will be consolidated by blockescence.
Gamigo is a forerunner in blockchain implementation in the gaming sector. As the launch-partner of The Laurel Foundry, who is launching the Ethereum based GamerToken (www.gamertoken.io) in cooperation with ConsenSys (www.consensys.net), gamigo has implemented blockchain technology in one of its largest games; 'Fiesta Online', a roleplay game. It offers a blockchain-based marketplace enabling the trading of unique items (so called non-fungibles). Further DLT concepts for the gaming industry are in preparation.
3. Structure and Governance
Remco Westermann, gamigo's CEO, who has also become the largest shareholder in blockescence, is proposed to join the board of directors of blockescence at the forthcoming e.o. shareholders' meeting. Furthermore, Tobias M. Weitzel, is proposed to be elected to the Board as second independent director, next to René Müller, who will continue to serve in this capacity.
Remco Westermann is a serial entrepreneur, investor and hands-on manager, specialized in the areas of media, mobile and online entertainment and is convinced of the disruptive power which blockchain technology brings to the real industry. After running and growing various companies, Remco has concentrated on successfully managing the growth of gamigo via a concentrated buy and build strategy in the last five years.
Tobias M. Weitzel is the sole partner and serves as CEO of BSK Becker+Schreiner Kommunikation GmbH, a company which advises national and international clients on public and investor relations since 1998. He also is an active investor and Business Angel. He serves as member of the board of Financial Experts Association e.V. (FEA), since 2012. FEA is the first professional Association for Financial Experts in Supervisory Boards in Germany.
Remco Westermann says: "Distributed Ledger Technology in combination with smart contracts is a very strong technology stack that can and will change several industry sectors substantially. Running a fast-growing gaming company for several years now, we are convinced that implementation and rolling-out of blockchain technology will disrupt the gaming sector and cater further growth. Also in other sectors we see this potential and we are establishing a structured M&A process to find and acquire suitable candidates in which we can buy a controlling stake and implement this new tech. As blockchain and the broadly discussed cryptocurrencies in the start-up environment are still a young and not yet properly regulated market, we will clearly stay clear from crypto currencies and focus on implementing this new technology in existing real industry cases. In that, we will apply the governance and transparency standards required for a public company."
Distributed Ledger Technology solves real world problems. Problems such as trust in records (e.g. payment services), proof of ownership (e.g. music rights) or integrity of data (e.g. medical records). DLT - also more popular "blockchain technology" - shows already strong disruptive powers in a number of industries, even though its implementation history is still young. Application cases are added daily.
Due to this, large companies and governments are more and more embracing the promises of this new technology. Some call it the Internet 3.0, whilst at the same time they are trying to control the hype around crypto-currencies and ICOs and their often baseless speculation. Latter seems to be comparable to what we have seen during the dot.com-bubble in the years following 1994-1996, that evidently burst after a while. The internet 2.0, however, survived, and changed our life.
But like during the dot.com-era, integration and disruption by DLT is not just happening by itself. It needs deep analysis, proper planning and experienced hands-on management to be able to create those values in existing industries, which DLT-technology enables.
This is what we do at blockescence.
For further questions, please contact:
Streit's Hof, Poststraße 14-16
T. +49 (0) 40 3202791-0
F. +49 (0) 40 3202791-14
Email: [email protected]
solidare real estate holding plc
(to be renamed into blockescence plc)
St. Christopher Street 168
Valletta VLT 1467
Email: [email protected]
Blockescence remains until the approval of the shareholders on the next e.o. general meeting in late May, listed under the name "solidare real estate holding plc". blockesence is one of the first investment firms that focuses on using Distributed Ledger Technology (DLT or blockchain technology) to create value in its own portfolio companies. blockescence implements blockchain-technology in real industries, which can be disrupted by it and follows a "buy, improve & sell" strategy.
This release may contain forward-looking statements based on current assumptions and forecasts made by the management of solidare 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 solidare and its affiliated companies and the estimates given here. Neither solidare nor its affiliated companies assume any liability to update these forward- looking statements or to adapt them to future events or developments.