STOCKHOLM, Nov. 18, 2020 /PRNewswire/ -- Embracer Group
AB ("Embracer") has today entered into an agreement to acquire 95
percent of the shares in Quantic Lab SRL[1] ("Quantic Lab").
Quantic Lab, based in Cluj-Napoca, Romania, is a software outsourcing company
specialized in Quality Assurance ("QA") for gaming and
applications. The purchase price of MEUR 4.75 is paid in cash and
represent a corresponding Enterprise Value of MEUR 5 for 100
percent ownership on a cash and debt free basis.
"The gradual expansion of Quantic Lab under Stefan
Seicarescu's independent leadership over the past decade has been
exciting to follow. As quality assurance is becoming ever more
important for all industry participants, Quantic Lab has a key role
to play. It will be business as usual in Romania, as Embracer will continue to support
Stefan in his venture to take Quantic Lab to the next level, while
continuing to support its internal and external
partners" says Lars Wingefors, Founder and Group CEO of
Embracer Group.
Background and rationale
Quantic Lab was founded in 2006 by Stefan Seicarescu, current
CEO, and has since grown, from being a start-up with a small team
of 12 persons, into a leading QA company with more than 60 active
clients and 390 employees in 3 office locations in Romania.
Quantic Lab provides QA services for gaming platforms ranging
from consoles to mobile, with testing services for the full game
production cycle, including among others localization tests,
gameplay testing, and UX/UI experience testing. Quantic Lab has
extensive experience of working with leading publishers and
developers within the gaming industry, providing QA services both
in shorter critical project phases and as longstanding partnership
from pre-production throughout release with post-release quality
testing.
Quantic Lab is an independent business with many international
clients but has also historically collaborated with several
companies within the Embracer Group, primarily THQ Nordic.
"It brings me great joy that Quantic Lab joins Embracer
family today. I founded the company on a set of values that are
part of Embracer's vision as well: passion, integrity, quality,
flexibility and continuous improvement. This is an important
milestone in our 15 years long journey bringing up new
possibilities in our continuous evolution. We have known Lars for
more than nine years, and we have been successfully working with
Embracer's companies ever since. We will remain an independent
service provider, while using this opportunity to increase our
strength on the QA market and continuing our great collaboration
with historic partners worldwide" says Stefan Seicarescu,
CEO Quantic Lab.
Quantic Lab will continue to operate as an independent gaming QA
and software outsourcing company directly under Embracer, with
Stefan Seicarescu continuing in his position as CEO of the company.
Quantic Lab complements Embracer's strategy to "partner within the
industry", including work-for-hire and Partner Publishing.
For the calendar year 2020 Quantic Lab estimates a net revenue
of MEUR ca 5.7 and an operating EBIT of approximately MEUR 1.0.
Lars Wingefors AB and Erik
Stenberg represent the two majority owners of Nordic Games
Group AB (`'NGG''). NGG and Stefan Seicarescu owns 95 percent and 5
percent respectively in Quantic Lab. Embracer Group AB acquires 95
percent of Quantic Lab SRL from NGG[1] for a purchase
price of MEUR 4.75. The consideration is paid in cash and is
equivalent to MEUR 5 for 100 percent ownership on a cash and debt
free basis.
The transaction has been reviewed and approved by the
independent Directors of the Board in order to ensure a nonpartisan
review and decision of the acquisition.
Completion of the transaction
The transaction is not subject to any further condition and is
completed as of November 18,
2020.
[1]
Embracer acquires 100 percent of Nordic Games Stockholm AB,
which holds 95 percent of Quantic Lab.
Advisers
Ernst & Young AB is providing transaction support and Baker
McKenzie is acting as legal counsel to Embracer in the
transaction.
For additional information, please contact:
Lars
Wingefors
Co-founder and Group CEO Embracer Group AB
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
Stefan Seicarescu
CEO Quantic Lab SRL
Tel: +40 742 877 735
E-mail: sseicarescu@quanticlab.com
About Embracer Group
Embracer Group is the parent company of businesses developing
and publishing PC, console and mobile games for the global games
market. Embracer Group has an extensive catalogue of over 190 owned
franchises, such as Saints Row, Goat Simulator, Dead Island,
Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters,
Satisfactory, Wreckfest, Insurgency and World War Z, amongst many
others.
With its head office based in Karlstad, Sweden, Embracer Group has a global presence
through its six operative groups: THQ Nordic GmbH, Koch Media
GmbH/Deep Silver, Coffee Stain AB, Amplifier Game Invest, Saber
Interactive and DECA Games. Embracer Group has 46 internal game
development studios and is engaging more than 4,000 employees and
contracted employees in more than 40 countries.
Embracer Group's shares are publicly listed on Nasdaq First
North Growth Market Stockholm under the ticker EMBRAC B with FNCA
Sweden AB as its Certified Adviser; info@fnca.se +46-8-528 00
399.
Subscribe to press releases and financial information:
https://embracer.com/investors/subscription/ For more information,
please visit: http://www.embracer.com
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Embracer Group
acquires Quantic Lab SRL
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