Updated Mar 17, 2026 by PCF Group
PCF Group S.A. acquired 100% of Montreal-based creative agency Game On Creative, Inc. to bolster its North American motion capture, cinematic, and audio production capabilities.
The purchase price is valued at eight times Game On’s 2020 EBITDA, subject to adjustments for debt, working capital, and leakage.
The transaction is primarily financed through a private subscription of PCF Group Series D shares issued to the seller’s trust, SG Trust.
A five-year earn-out provision grants the seller 5% of annual EBITDA contingent upon meeting specific performance targets.
Game On founder Samuel Girardin will serve as Studio Head of People Can Fly Canada while retaining his presidency at Game On.
The agreement includes a lock-up period for newly issued shares and a call option mechanism to protect the buyer if share registration is delayed beyond 2021.
PCF Group delayed the public disclosure of the March 11, 2021, letter of intent to comply with European Market Abuse Regulations and protect the integrity of the negotiation process.
PCF Group S.A. acquired 100% of Montreal-based creative agency Game On Creative, Inc. to bolster its North American motion capture, cinematic, and audio production capabilities.
The purchase price is valued at eight times Game On’s 2020 EBITDA, subject to adjustments for debt, working capital, and leakage.
The transaction is primarily financed through a private subscription of PCF Group Series D shares issued to the seller’s trust, SG Trust.
A five-year earn-out provision grants the seller 5% of annual EBITDA contingent upon meeting specific performance targets.
Game On founder Samuel Girardin will serve as Studio Head of People Can Fly Canada while retaining his presidency at Game On.
The agreement includes a lock-up period for newly issued shares and a call option mechanism to protect the buyer if share registration is delayed beyond 2021.
PCF Group delayed the public disclosure of the March 11, 2021, letter of intent to comply with European Market Abuse Regulations and protect the integrity of the negotiation process.