Imperus to take over social gaming company Akamon

social gamingImperus to take over social gaming company Akamon9 September 2015

Imperus Technologies Corp, a specialist in social networking, mobile and real-money gaming, has struck a deal to acquire social gaming company Akamon Entertainment Millennium.

The deal is set to close before October 2, 2015, with the deal valued at $25.6m (€23m).

Imperus has advanced $600,000 as a non-refundable deposit, and an additional $22.25m in cash is payable on the closing date plus $500,000 in cash to be deposited into escrow. The final $2.23m shall be paid in Imperus securities to certain shareholders of Akamon following the closing date.

Akamon is currently forecasting to generate annualised revenue of approximately $16.2m and $4.7m of adjusted EBITDA in 2015. Akamon generated revenues of $8.6m for the first seven months of 2015.

Akamon, which has a user base of more than 25 million, is the leading developer and publisher of social gaming within Latin America and Southern Europe, with its head office in Barcelona, Spain.

“With Akamon, Imperus will benefit from an immediate and large footprint into South America, namely Brazil, in addition to Mexico, Spain, France and Italy, where Diwip currently has very little presence,” Imperus chief executive officer Daniel Kajouie said.

“With virtually no overlap of customers between Diwip and Akamon, Imperus will have the opportunity to cross-sell its products to a much larger audience and leverage the infrastructure of both companies to accelerate growth almost immediately.”

Akamon chief executive officer Vicenc Marti added: “To me, the acquisition of Akamon by Imperus is a game changer.

“The opportunities in front of us are immense. The transition to mobile in Akamon’s core regions represents in itself a value multiplier of the already exceptional performance of Akamon in Southern Europe and Latin America.

“Imperus, with its other assets, especially Diwip, with whom we will focus in maximising synergies, will accelerate our plans. Latin America is the fastest-growing smartphone region in the world and craved by the entire social gaming community, and along with Imperus, we plan to capitalise on that trend.”

The transaction is subject to regulatory closing conditions.

 

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September 14, 2015: posted in News And Reviews No Comments

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