Jørgen Madsen Lindemann, MTG President and CEO: “Our MTGx division is now present in three complementary digital storytelling verticals, each of which offers truly global potential. InnoGames is a perfect fit for our strategy of investing in relevant, complementary and scalable digital brands, content and communities. We are looking forward to working with the talented InnoGames team to build on their successful track record.”
The acquisition of 35% of InnoGames in total is based on a total enterprise value of EUR 260 million for 100% of InnoGames. MTG has the right to acquire a further 16% of the company at the same valuation up until the end of September 2017, as well as options to increase the shareholding further over time. MTG will report its share of InnoGames’ net income as associated company income (EBIT) within its MTGx operating segment with effect from today’s date.
The presentation that accompanied the original announcement can be found here.
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MTG (Modern Times Group MTG AB (publ.)) is a leading international digital entertainment group and we are shaping the future of entertainment by connecting consumers with the content that they love in as many ways as possible. Our brands span TV, radio and next generation entertainment experiences in esports, digital video networks and online gaming. Born in Sweden, our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).