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Update: We now know a bit more about the sale thanks to a Press Release from EG7, detailing the breakdown of how the sale, as well as an outline of why EG7 bought out Daybreak Game Studios.
Per the release
Daybreak Executive Chairman and majority shareholder, Jason Epstein, also stated via the PR:
“On behalf of the Daybreak team, we are elated to be joining the EG7 family. The combined companies are strategically positioned to expand Daybreak’s unique and iconic portfolio of live games and will help amplify our passion for making great games for our communities. As a long-term shareholder and prospective Board member, I look forward to working closely with management to expand the company’s footprint by identifying opportunities that fit the successful growth plan executed by EG7 over the past few years.â€
You can check out the full press release here with details regarding the acquisition.
Original Story Below:
Enad Global 7 has reportedly acquired Daybreak Game Company, the developers responsible for EverQuest, H1Z1 and more, in a deal worth $300 million, according to new reports.
The deal, which was first reported by Gamasutra, will see EG7 take 100% of the shares in Daybreak, with the deal totaling $300 million in cash and shares.
In a statement made to Gamasutra, Daybreak CEO Ji Ham praised the move, stating:
This move comes not more than a week since it was announced that EG7 would also be buying Mechwarrior Online developer, Piranha Games, for $24.2 million.
Per the release
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Daybreak is a San Diego, CA based leading MMORPG video game developer and publisher. Daybreak possesses globally recognized third party IPs combined with valuable original IPs. Third party IPs include DC, Lord of the Rings and Dungeons & Dragons. Original IPs include EverQuest, H1Z1 and PlanetSide. The company has expertise in free-to-play and games as a service business model. Daybreak has a total of approximately 178 million registered users, with potential to leverage for marketing and reactivation. [...] The acquisition of Daybreak will further strengthen and add diversification to EG7’s IP portfolio through acquisition of best-in-class original and third-party IPs (EverQuest, The Lord of the Rings, Dungeons & Dragons, DC Universe Online). Daybreak will also add a strong team of both operationally and strategically capable individuals. The Transaction will increase size and profitability of the Company through stable cash flows from free-to-play model with loyal communities for existing IPs. Furthermore, the Daybreak platform offers future upside through upcoming content releases for e.g. DC Universe Online and The Lord of the Rings Online, potential synergies across the group, and strengthened team to identify and execute further M&A.
Daybreak Executive Chairman and majority shareholder, Jason Epstein, also stated via the PR:
“On behalf of the Daybreak team, we are elated to be joining the EG7 family. The combined companies are strategically positioned to expand Daybreak’s unique and iconic portfolio of live games and will help amplify our passion for making great games for our communities. As a long-term shareholder and prospective Board member, I look forward to working closely with management to expand the company’s footprint by identifying opportunities that fit the successful growth plan executed by EG7 over the past few years.â€
You can check out the full press release here with details regarding the acquisition.
Original Story Below:
Enad Global 7 has reportedly acquired Daybreak Game Company, the developers responsible for EverQuest, H1Z1 and more, in a deal worth $300 million, according to new reports.
The deal, which was first reported by Gamasutra, will see EG7 take 100% of the shares in Daybreak, with the deal totaling $300 million in cash and shares.
In a statement made to Gamasutra, Daybreak CEO Ji Ham praised the move, stating:
Quote:
Daybreak Games has an incredible legacy, an impressive portfolio of game franchises and the most incredible community of players. Combined with EG7, we are better positioned to expand on those amazing IPs, grow its development teams and player communities and fund exciting future games.
This move comes not more than a week since it was announced that EG7 would also be buying Mechwarrior Online developer, Piranha Games, for $24.2 million.