tinyBuild, Inc. Acquihire of Demagic Games
RNS Number : 8754H
11 April 2022
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11 April 2022
("tinyBuild" or the "Company")
Acquihire of Demagic Games
tinyBuild, a premium video games publisher and developer with
global operations, is pleased to announce the acquihire of Demagic
Games, a development studio with 23 staff () currently based in
Ukraine and Russia. The Company has been working with Demagic Games
for over a year on various projects including Hello Neighbor 2,
unannounced titles, and more recently Deadside.
By bringing Demagic Games in-house, the Company expects to
reduce dependencies on external studios and increase visibility on
the production process, in line with its core strategy. The small
acquihire will have no material impact on the Company's
Admission and Total Voting Rights
As part of the initial consideration on signing, the Company
will issue 621,006 New Common Shares of $0.001 each in the Company
("New Common Shares") at a price of 194.13p per New Common Share.
The New Common Shares will be subject to a 12 month lock up period
and rank pari passu in all respects with the existing Common Shares
of the Company. Application will shortly be made to the London
Stock Exchange for the admission of the New Common Shares to
trading on AIM ("Admission") which is expected to take place on or
around 14 April 2022. Following Admission, the total number of
voting rights in the Company will be 203,528,087 and shareholders
may use this figure as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.
Alex Nichiporchik, Chief Executive Officer of tinyBuild,
"We are delighted to announce our first acquihire this year, and
to extend to all Demagic staff our support to alleviate the
challenges of the ongoing conflict in Ukraine. Demagic has already
made a strong contribution to the development of Hello Neighbor 2
and it brings a highly skilled porting team."
"Our goal is to expand and diversify our position as a global
developer and publisher, focusing on IP ownership while creating
long-term scalable franchises across multiple media formats. In
addition, we are looking at a number of other potential acquihires
and larger scale acquisitions to enhance the Company's strategic
and operational position."
For further information, please contact:
tinyBuild, Inc firstname.lastname@example.org
Alex Nichiporchik - Chief Executive Officer
Luke Burtis - Chief Operating Officer and
Antonio Jose Assenza - Chief Financial Officer
Giasone (Jaz) Salati - Head of M&A and IR
Berenberg (Nominated Adviser and Sole Broker)
Ben Wright, Mark Whitmore, Ciaran Walsh,
Milo Bonser +44 (0) 20 3207 7800
SEC Newgate (Financial PR) email@example.com
Robin Tozer, Bob Huxford, George Esmond +44 (0)7540 106366
Founded in 2013, tinyBuild (AIM: TBLD) is a global video games
publisher and developer, with a catalogue of more than 70 premium
titles across different genres. tinyBuild's strategy is to focus on
its own intellectual property (IP) to build multi-game and
multimedia franchises, in partnership with developers.
tinyBuild is headquartered in the USA with operations stretching
across the Americas and Europe. The Group's broad geographical
footprint enables the Company to source high-potential IP, access
cost-effective development resources, and build a loyal customer
base through its innovative grassroots marketing.
tinyBuild was admitted to AIM, a market by the London Stock
Exchange, in March 2021.
For further information, visit: www.tinybuildinvestors.com .
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(END) Dow Jones Newswires
April 11, 2022 02:01 ET (06:01 GMT)
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