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Splash Damage

sold to

Leyou Technologies

May 2017

 

About the Client

Based in London, Splash Damage is a high-end computer and video games development studio that develops video games across multiple platforms including next generation consoles, personal computers and mobile devices.
 

About the deal

GP Bullhound acted as the exclusive financial advisor to Splash Damage on its sale to Leyou Technologies (“Leyou”), in a transaction valued at up to $160 million. With the acquisition of Splash Damage, Hong Kong based Leyou plans to further diversify its portfolio and expand its global gaming business. This represents GP Bullhound’s second sale of a European company to a Chinese buyer in 2017, underscoring GP Bullhound’s access to Asia, following on from successful transactions completed for Rightware (sale to Thundersoft), The Bio Agency (sale to Tech Mahindra), Designit (sale to Wipro) and Libratone (sale to China-based consortium). It is also the fourth transaction the firm has closed in the gaming sector in the last nine months and emphasises its track record of working with leading companies in the global games industry.
 

Quotes

Paul Wedgwood, co-Founder and CEO of Splash Damage commented: “This transaction enables Splash Damage to continue working on major titles with the world’s leading publishers, as well as accelerate the development of our own portfolio of original IP titles. GP Bullhound has worked with Splash Damage for four years now and has been a great advisor throughout this journey. Their expertise and relationships in the sector have proven invaluable in identifying the best partner and delivering a great outcome.”
 
Alec Dafferner, Partner of GP Bullhound, and Alexis Scorer, Director, commented: “We are pleased to have successfully advised Splash Damage, a global innovator in the games industry and one of the UK’s leading studios. The transaction further highlights our deep domain expertise in the games sector as well as our global buyer relationships.”