[1] Acquired through Embracer's wholly owned subsidiary Embracer Group Lager 2 AB and will be part of the Saber Interactive operative grou
"DIGIC is the best animation studio in the world - period. They have worked on more game animation products than any company in the industry and have also created incredible content for streaming partners such as Netflix. DIGIC will continue to provide creative services to our external partners as well as to internal Embracer studios across the operative groups. I have tremendous respect for Alex and I couldn't be happier to welcome him into the Embracer family. This acquisition is precisely why I love what I do." Said
Background and rationale
DIGIC, based in
DIGIC is led by founder
The acquisition adds a talented team with a strong track record in creating
Purchase Price and financial contribution
Due to commercial reasons the specific transaction terms are not disclosed but include shares and long-term earnouts. The transaction will be accreative to adjusted earnings per share.
In the calendar year 2021, DIGIC will generate approximately net sales of
Founder and CEO,
Completion of the transaction
The transaction is subject to various conditions including without limitiation, approval of the transaction by lenders of DIGIC and of the
For additional information, please contact:
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
E-mail: Alex.rabb@digicpictures.com
Email: karch@saber3d.com
About
With its head office based in Karlstad,
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Important information
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This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in Embracer's shares. Any investment decision regarding Embracer's shares must be made on the basis of all publicly available information relating to the company and the company's shares. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not constitute a recommendation. Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.
Forward-looking statements
This press release contains forward-looking statements that reflect the company's intentions, beliefs, or current expectations about and targets for the company's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the company operates. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim" or "might", or, in each case, their negative, or similar expressions. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurances that they will materialize or prove to be correct. Because these statements are based on assumptions or estimates and are subject to risks and uncertainties, the actual results or outcome could differ materially from those set out in the forward-looking statements as a result of many factors. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Embracer does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors and readers of this press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change without notice. Neither Embracer nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, unless it is not required by law or Nasdaq First North Growth Market's rule book for issuers.
https://news.cision.com/embracer-group-ab/r/embracer-group-enters-into-agreement-to-acquire-digic,c3476221
https://mb.cision.com/Main/15049/3476221/1512956.pdf
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