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Animoca Brands acquires GAMEE

Thursday, July 02, 2020

Animoca Brands has acquired GAMEE for €4 million (approx. A$6.53 million) in shares plus earn-out payments of up to €1 million (approx. A$1.63 million) in cash or shares.

  • GAMEE is a social casual gaming platform with over 80 game titles; it has €700,000 (approx. A$1.15m) in cash and no debt
  • The acquisition adds strategically valuable in-house HTML5 skills, a portfolio of over 80 casual games, and a gaming community of 13 million registered users and 1.3 million monthly active users
  • The acquisition of GAMEE confers to Animoca Brands thecapability to offer browser games independently from third-party platforms, offering greater freedom, flexibility and unrestricted search - particularly valuable in light of the Company’s use of blockchain technology
  • Animoca Brands plans to leverage the acquisition of GAMEE to launch browser based games as well as games on various social media platforms (such as Facebook’s Instant Games, Telegram, or WeChat Mini-Programs) that utilise blockchain and the Company’s extensive portfolio of brands.

2 July 2020: Animoca Brands Corporation Limited (“Animoca Brands” or “the Company”) has acquired Gamee Limited (“GAMEE”), an entity incorporated under the laws and regulations of England and Wales, which owns 100% of Gamee Mobile s.r.o., an entity incorporated under the laws and regulations of the Czech Republic (the “ Acquisition”). GAMEE is a social casual gaming platform with over 80 game titles and 13 million registered users playing its games primarily on social media platforms such as Telegram.

Animoca Brands Limited, a wholly owned controlled entity of Animoca Brands, executed the Share Purchase Agreement (the “Agreement”) on behalf of Animoca Brands. Under the terms and conditions of the Acquisition, Animoca Brands has acquired 100% of the common stock on issue in GAMEE from the shareholders of GAMEE (the “Sellers”) for a total consideration of €4 million (approximately A$6.53 million) payable in fully paid ordinary shares of Animoca Brands, as well as earn-out payments (“Earn-out Payments”) of up to€1million (approximately A$1.63 million) in either cash or fully paid ordinary shares at the Company’s discretion, based on GAMEE’s achievement of revenues and profits milestones.

GAMEE has cash balances of €700,000 (approx. A$1.14m) and no debt as at the date of the Acquisition.

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