Updated Mar 23, 2026 by PCF Group
PCF Group S.A. signed a letter of intent on 11 March 2021 to acquire 100% of the Montreal-based studio Game On Creative, Inc.
The acquisition price is set at eight times Game On’s 2020 EBITDA, with an additional earn-out clause of 5% EBITDA for the years 2021–2025.
PCF Group plans to launch a Series D share offering to the SG Trust, which includes a 15% exemption from the standard lock-up period.
Samuel Girardin will lead the expansion into Canada by serving as both Studio Head of People Can Fly Canada and President of Game On.
The agreement includes a call option for the SG Trust if the required capital increases are not officially registered by 31 December 2021.
Public disclosure of the transaction was delayed until 27 April 2021 under EU Regulation 596/2014 to protect negotiation dynamics and prevent investor misinformation.
PCF Group S.A. signed a letter of intent on 11 March 2021 to acquire 100% of the Montreal-based studio Game On Creative, Inc.
The acquisition price is set at eight times Game On’s 2020 EBITDA, with an additional earn-out clause of 5% EBITDA for the years 2021–2025.
PCF Group plans to launch a Series D share offering to the SG Trust, which includes a 15% exemption from the standard lock-up period.
Samuel Girardin will lead the expansion into Canada by serving as both Studio Head of People Can Fly Canada and President of Game On.
The agreement includes a call option for the SG Trust if the required capital increases are not officially registered by 31 December 2021.
Public disclosure of the transaction was delayed until 27 April 2021 under EU Regulation 596/2014 to protect negotiation dynamics and prevent investor misinformation.