Jumpgate AB: Jumpgate Receives ca 14 million SEK in Project Financing for Game Project
Jumpgate has entered into an agreement for project financing with Susana Meza Graham and Andras Vajlok ("MGV") amounting to ca 14 million SEK (1.2 million EUR) for a yet to be announced game project, which will be published by THQ Nordic. Pursuant with the agreement MGV will finance the development budget for the game and the net revenue from sales will be distributed between MGV and the publisher until MGV has reached the agreed level of return on their investment. Thereafter, Jumpgate also takes part of the upside from sales. The financing will be paid in instalments during the project period, starting in late April 2024.
The game project is a remaster of a very successful classic game with an established IP in a popular genre and is planned for release in 2025. The project will be announced later in co-ordination with the publisher.
"It's a great pleasure to announce that we have entered into an agreement for an additional substantial externally financed game project. The development has already started, and the project is a great fit for our business model, with a margin on the development budget and further upside from a successful launch. We are joined by a very experienced investor in MGV, who we know well, a strong publisher in THQ Nordic and an established game with a loyal following. We very much look forward to the collaboration and not the least to be able to announce the project to the players", says Harald Riegler, CEO Jumpgate AB.
"We look forward to enabling this game to be developed and then reach its player base. We see significant potential in this kind of project where a classic game with an established IP and target group gets a remaster and reaches the market efficiently", says Susana Meza Graham.
As Andras Vajlok is also a director of Jumpgate and the agreement is considered a related party transaction, the agreement will be subject to approval by an extra general meeting.
For additional information
Harald Riegler CEO, Jumpgate AB Phone: +46 (0)705 - 54 73 33 E-mail: harald@jumpgategames.se
About the Company
Jumpgate AB is an independent group of game development companies founded in 2011, comprising five game studios: Nukklear (Hannover), Tivola Games (Hamburg), gameXcite (Hamburg), Funatics (Düsseldorf) and Tableflip Entertainment (Visby). The group develops and publishes its own games as well as developing games and other digital products for external companies. The companies in the group have established collaborations with strong industry partners and exciting product portfolios with large potential. The group is engaged in the global market, distributing games on a worldwide basis and has a large international network. For more information: www.jumpgategames.se
This information is such information Jumpgate AB (publ) is obliged to make public in accordance with the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-17 11:00 CEST.