Enad Global 7 AB (publ) ("EG7") has completed the acquisition of Canadian game developer Big Blue Bubble Inc. for a consideration of CAD 16 million, on a cash- and debt- free basis, plus an additional consideration of up to CAD 60 million. In addition, EG7 has entered into an agreement to acquire Canadian game developer Piranha Games Inc. for an aggregate purchase price of approximately CAD 31.4 million, on a cash- and debt-free basis, plus an additional consideration of up to CAD 63.4 million. Baker McKenzie is legal advisor to EG7 in both acquisitions.
EG7 is a group of companies within the gaming industry that develops, markets, publishes and distributes PC, console and mobile games to the global gaming market. The group is headquartered in Stockholm with 200 employees in eight offices worldwide. EG7 develops its own original IPs, and act as consultants to other publishers around the world. In addition, the group's marketing department Petrol has contributed to the release of 1,500+ titles, of which many are world famous brands such as Call of Duty, Destiny, Dark Souls and Rage.
Both acquisitions are in line with EG7's strategy to perform complementary acquisitions to establish a stronger industry position.
Baker McKenzie is legal advisor to EG7 in both acquisitions. The team consisted of lawyers from the firm's offices in Stockholm and Toronto, and included among others Anna Orlander, Nancy Hamzo, Ian Gulam, Haran Viswanathan, Nahal Iranpour, Shirley Chen, Erik Holmgren and Maja Uppgren.
Baker McKenzie's global video games industry team advises on a wide range of national and cross-border transactions in the video games industry.