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MTG has entered into an agreement to acquire 35 per cent of InnoGames, a global online games developer and publisher, from Eight Roads Ventures and the Company’s founders. The transaction is based on an Enterprise Value of €260 million for 100 per cent of the company. MTG has an option to acquire a further 16 per cent of the company at the same valuation. The transaction is subject to German and Austrian merger approvals. MTG will report its share of InnoGames’ earnings as associated company income, which will be included in its MTGx segment.
MTG says the investment is in line with its digital strategy to invest in relevant, complementary and scalable digital content and communities. It creates a third digital entertainment vertical for MTGx alongside its esports and MPN businesses. MTG’s ESL and DreamHack are the leading players in esports, which is the fastest growing professional sport and will engage over 250 million worldwide fans in 2016, while content from MTG’s MPNs Zoomin.TV and Splay generate some 2.5 billion online views every month, of which 25 per cent are related to gaming content.
Jørgen Madsen Lindemann, MTG President and CEO: “We have been involved in the gaming space for a while now, and look for companies with clear track records in IP development that have translated into high revenue growth and a healthy profitability profile over time. This we have found with InnoGames. We are focused on digital verticals with global potential, and gaming is a truly global industry. InnoGames is the right partner due to its established position in the industry, fast growing mobile user base, and exciting pipeline of new releases. We are now present in three complementary digital video storytelling verticals, and we will invest to expand this presence further.”