GP Bullhound advises InnoGames on its equity stake sale to Modern Times Group at EUR260m valuation
Berlin, 13 October 2016 – GP Bullhound, the technology investment bank, acted as the exclusive financial advisor to InnoGames on its sale of an equity stake to Modern Times Group (OM:MTG B) in a transaction valuing InnoGames at EUR 260 million.
Founded in 2007, InnoGames is a leading developer and publisher of online and mobile games. With over 150 million registered players worldwide, the company has produced multiple successful gaming titles including Forge of Empires, Elvenar, Grepolis, Tribal Wars, and The West. InnoGames is renowned for its cross-platform expertise, creating games that work seamlessly across both browser and mobile. Headquartered in Germany, the company has over 400 employees from 30 nations and surpassed EUR 100 million in revenues in 2015.
The investment is in line with MTG’s digital strategy to invest in relevant, complementary and scalable digital content and communities. It creates a third digital entertainment vertical for MTG with clear cross-promotional synergies with MTG’s existing esports and multi-platform network verticals.
Hendrik Klindworth, Co-founder and CEO of InnoGames, commented: “We have scored major success with our live games and are now focusing on the development of new mobile first titles while maintaining our high quality operations of all live games. MTG’s international presence, understanding of storytelling entertainment, and commitment to IP development and building engaged user communities will bring our games to even larger audiences around the world. MTG’s culture of empowering entrepreneurial spirit is exactly what we were looking for as we move into the next chapter of our story. The team could not be more excited about further boosting our future potential and performance.”
Julian Riedlbauer, Partner at GP Bullhound, commented: “It has been a pleasure working with the InnoGames founders again after helping them find Eight Roads Ventures as an investment partner during the company’s early years. As the most highly valued Software and Games transaction in Germany thus far in 2016, we are proud to have advised on such a meaningful deal.”
Alec Dafferner, Partner at GP Bullhound, commented: “We have seen some significant transactions in the global Games sector this year and InnoGames deserves to be a part of this elite group. We are pleased to have helped the company find the right deal structure and partner through an international process led by our teams in Berlin and San Francisco.”
This represents the completion of GP Bullhound’s 15th transaction in 2016 and further highlights the firm’s expertise in advising companies in the global Games sector.
For enquiries, please contact Alec Dafferner, Partner, at firstname.lastname@example.org, Julian Riedlbauer, Partner, at email@example.com or Per Roman, Managing Partner, at firstname.lastname@example.org.
About GP Bullhound
As dealmakers in technology, GP Bullhound provides independent strategic advice on mergers and acquisitions and private placements to entrepreneurs, companies and investors. By combining a true passion for innovation with great access to global buyers and capital across Europe, US and Asia, GP Bullhound has completed transactions with many category leaders including Avito, Delivery Hero, Fjord, King Digital Entertainment, Pingdom, Pozitron and Spotify. The firm was founded in London in 1999 and today also has offices in San Francisco, Stockholm, Berlin, Manchester and Paris. For more information, please visit www.gpbullhound.com, follow us on Twitter @GPBullhound or watch our video here
Founded in 2007, InnoGames is a leading developer and publisher of online and mobile games. With over 150 million registered players worldwide, the company has produced multiple successful gaming titles including Forge of Empires, Elvenar, Grepolis, Tribal Wars, and The West. InnoGames is renowned for its cross-platform expertise, creating games that work seamlessly across both browser and mobile. Headquartered in Germany, the company has over 400 employees from 30 nations and surpassed EUR100 million in revenues in 2015. For more information please visit www.innogames.com