Completion of TicBits Acquisition
Hong Kong 8 July 2016: Animoca Brands (ASX: AB1, “The Company”) is pleased to announce it has completed its acquisition of TicBits OY (TicBits), with the initial cash consideration of €2.35 million (A$3.5 million) having now been paid to the vendors.
The acquisition of a leading European mobile gaming developer and publisher has strengthened the Company’s position in the global mobile gaming market through a European operational footprint and access to additional skills and expertise.
TicBits generated revenue of €1 million (A$1.5 million) in FY2015 and its balance sheet includes €1.2 million (A$1.8 million) in excess cash. Revenue is primarily generated through in-app purchases (IAPs) and in-app advertising and Animoca Brands have identified a number of opportunities to endeavour to increase these revenue streams and the ROI offered to advertisers.
About Animoca Brands
Animoca Brands (ASX:AB1) publishes globally a broad portfolio of mobile games, including several games based on popular brands such as Garfield, Thomas & Friends™, and Ultraman. The company’s games have been downloaded over 200m times and are growing at over 8m downloads per month. Animoca Brands is based in Hong Kong. For more information visit www.animocabrands.com.
TicBits Ltd is an independent game development studio based in Turku, Finland. It was founded in 2010 by Fredrik and Niklas Wahrman. Before founding TicBits Ltd., both Fredrik and Niklas have worked in the game development industry, on such leading branded games such as Blade of Zorro, Constantine and Superman.
For more information please visit - http://ticbits.com/