Starbreeze AB, an independent creator, publisher and distributor of high quality entertainment products, has completed its acquisition of Los Angeles based Orange Grove Media and its owners by issuing 3.6 million new B-shares.
Starbreeze announced the acquisition on June 14, 2015. The shares, which represent approximately 1.6% of shares and 0.4% of votes, are issued under authority from the AGM. After the issue, the total number of B-shares in Starbreeze is 148,585,325. The sellers have placed their shares in Phantom Games LLC and have agreed to retain shares for 1, 2 and 3 years respectively.
Orange Grove Media Inc. will be integrated into the newly established operations of Starbreeze LA Inc. The acquisition will not have any immediate impact on earnings or the financial position of the consolidated Starbreeze group. In the longer term though, the acquisition is expected to impact positively on profitability and provide Starbreeze strategic advantages since it brings key competences and resources in-house, as well as game rights.
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For more information, please contact:
Starbreeze Investor Relations Contact: Maeva Sponbergs, +46 (0)8 209 208 or ir@starbreeze.com
About Starbreeze
Starbreeze is an independent creator, publisher and distributor of high quality entertainment products, headquartered in Stockholm, Sweden. At Starbreeze, we create games by our own design and through licensed content, establishing franchises that can live and prosper outside the game itself. We live and die by gameplay.
Starbreeze is pioneering digital self-publishing, currently hosting one of the largest community groups on the digital distribution platform Steam. Starbreeze's most recent products include PAYDAY 2, our adrenaline fuelled bank robbing co-op game and the critically acclaimed Brothers - A Tale of Two Sons.
Starbreeze AB is publicly traded on Nasdaq Stockholm First North Premier under the ticker STAR and the ISIN code: SE0005992831. Remium Nordic is the company Certified Adviser. Starbreeze brands include OVERKILL Software and the PAYDAY series.
For more information, please visit http://www.starbreeze.com.
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