Press release
Lesquin, 4 September 2019, 18:00
CREATION BY BIGBEN OF THE NACON COMPANY
INTENDED TO COMBINE ITS ENTIRE GAMING BUSINESS
Transfer of Gaming's assets to Nacon, a subsidiary of Bigben
The Board of Directors of Bigben Interactive SA, meeting on September 4, 2019, approved the principle of the proposed combination of the assets and liabilities constituting its Gaming business unit within the Nacon company, a simplified joint-stock company (SAS) registered on July 18, 2019 and wholly owned by Bigben Interactive SA.
This transaction taking the form of a partial asset contribution will be put to a vote by Bigben Interactive SA shareholders at an extraordinary general meeting to be held by the end of October. It encompasses games studios acquired over the past 18 months, dedicated distribution subsidiaries and business-related contracts, as well as all patents and intellectual assets of the Gaming business unit. The new company also takes over the Spiders studio, an acquisition project which was announced on July 24 and finalized on September 3, 2019.
Nacon SAS will be headed by Alain Falc as Chairman.
As a matter of record, Bigben's Gaming business unit achieved 105.5 M€ sales in financial year ended 31 March 2019, up 20.9% when compared to the previous year.
This asset contribution results in the clarification of the Group's organization by legally distinguishing the three business units namely Gaming, Mobile and Audio.
Strengthening the development capabilities of the Gaming unit
The creation of Nacon will give the Gaming Business Unit its necessary independence, optimizing its operational and strategic organization, with the aim of strengthening the Bigben 2022 plan for the gaming part.
By endowing its Gaming Business Unit with an own identity, Bigben gives it the appropriate means to increase its development, especially in terms of financing. In order to support its future growth and continue its selective acquisition policy of gaming studios, Nacon may consider raising funds through debt or an increase of its share capital subscribed by qualified investors or a public listing according to market conditions, while Bigben intends to retain control of Nacon following these possible financing transactions.
« This creation of an independent visible Gaming Business Unit is a new step in our strategy to become a reference player in the video game industry. Nacon is now the bridgehead of Bigben's development in this industry and its autonomy will enable it to seek new sources of financing necessary for its growth," said Alain Falc, Chairman and CEO of Bigben.
Upcoming publication:
- Sales for 2nd quarter of FY 2019/20: Monday 21 October 2019
Press release after close of the stock market
| ABOUT BIGBEN INTERACTIVE | |
SALES 2018-2019 245.5 M€ HEADCOUNT over 600 employees INTERNATIONAL 12 subsidiaries and a distribution network in 100 countries | Bigben Interactive is a European player in video game development and publishing, in design and distribution of smartphone and gaming accessories as well as in audio products. The Group, which is recognized for its capacities in terms of innovation and creativity, intends to become one of Europe's leaders in each of its business segments. Company listed on Euronext Paris, compartment B - Index : CAC SMALL - Eligible SRD long ISN : FR0000074072 ; Reuters : BIGPA ; Bloomberg : BIGFP PRESS CONTACTS CapValue - Gilles Broquelet gbroquelet@capvalue.fr (mailto:gbroquelet@capvalue.fr) - +33 1 80 81 50 01www.bigben-group.com (http://www.bigben-group.com) |
Attachment
- CP_BBI_ Nacon (https://ml-eu.globenewswire.com/Resource/Download/0d073ba1-65f0-4e80-9741-86e8f0a6510c)
