Mergers Acquisitions Reports | Game Industry Library

Mergers & Acquisitions

2016 Annual Report

To spread happiness across the globe by providing unforgettable experiences To spread happiness across the globe by providing unforgettable experiences This philosophy represents our company’s mission and the beliefs for which we stand. The Square Enix Group provides high-quality content, services, and products to help those customers create their own Each of our customers has his or her own definition of happiness.

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Square Enix

Report

Annual Report and Consolidated Financial Statements: 2020

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Strategic report 3 Highlights of the year 4 Chairman’s statement 6 History and background 7 Strategy 9 Business model 10 tinyBuild portfolio 14 Chief Executive’s ...

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tinyBuild

Report

Raport Bieżący Nr 15/2024: Ogłoszenie Decyzji o Rozpoczęciu Przeglądu Opcji Strategicznych

PCF Group S.A. has formally initiated a comprehensive review of strategic options to evaluate potential pathways for supporting the long-term development of the company and its capital group. This process is designed to identify and assess various opportunities that could enhance the organization’s growth trajectory, including the potential acquisition of a financial or strategic investor. Furthermore, the review encompasses the possibility of executing corporate transactions that might result in structural changes to the company’s shareholding or capital base. The scope of this initiative involves active engagement and preliminary discussions with various external entities to explore potential partnerships or investment scenarios. While the company intends to provide selected parties with necessary information to facilitate these evaluations, the process remains in its preliminary stages. No specific outcomes, timelines, or definitive decisions have been established, and the company emphasizes that there is no guarantee that any particular strategic action will be finalized as a result of this review. Throughout the duration of this assessment, the group remains committed to its existing operational strategy and will continue to execute its current business objectives. Management intends to maintain transparency by disclosing further developments in accordance with regulatory requirements as the situation evolves. This strategic review reflects a proactive approach to capital management and corporate development within the gaming industry, aimed at securing the most advantageous future for the group’s stakeholders.

mergers-acquisitions investment europe

PCF Group

Report

Current Report No. 23/2023: Investment Agreement Supplement Between Krafton, Inc. and PCF Group S.A.

The report announces that on 14 June 2023, Krafton, Inc. and PCF Group S.A., together with key shareholder Sebastian Wojciechowski, entered into a side‑letter to the investment agreement dated 28 March 2023. The side‑letter stipulates that if PCF Group increases its share capital by issuing up to 2 510 904 new shares before 31 December 2023, Krafton will have the right of first refusal to subscribe for shares that would bring its total holdings to 10 % of the capital and voting rights. The subscription price is fixed at PLN 40.20 per share, independent of the price set for other investors. The agreement does not obligate Krafton to purchase any shares, and the allocation of new shares to other investors remains unaffected. The document is a regulatory disclosure under EU Regulation 596/2014 and Polish securities law, intended solely for informational purposes. It contains extensive legal caveats restricting distribution outside the European Economic Area and prohibiting any promotional use of the information. The report clarifies that it is not an offer, does not constitute a prospectus, and is limited to qualified investors in the EU, UK, or U.S. under Rule 144A. No financial projections or performance guarantees are provided; the report includes forward‑looking statements subject to risk and uncertainty. The disclosure emphasizes that no manager or affiliated party assumes liability for the accuracy of the information, and any investment decisions must rely on independently verified data.

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PCF Group

Report

Integrated Report 2018

I N T E G R AT E D R E P O R T 2 0 1 8 develops entertainment-related toys, network content, home video games, amusement machines, amusement facilities, and visual and music content. Under the Mid-term Plan, which was launched in April 2018, the Group aims to achieve “CHANGE” to progress to the next stage, with a Mid-term Vision of CHANGE for the NEXT: Empower, Gain Momentum, and Accelerate Evolution. “Dreams, Fun and Inspiration”are the Engine of Happiness.

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Bandai Namco

Report

Komunikat o przekroczeniu progu udziału w głosach: 11 bit studios SA

The communication informs shareholders that following the merger of TFI Allianz Polska S.A. with Aviva Investors Poland TFI S.A., the combined entity’s investment funds now hold 206,773 shares of Allianz Polska S.A., representing 8.69 % of the company’s registered capital and an equal proportion of voting rights at the general meeting. Prior to the merger, TFI Allianz’s funds alone owned 81,240 shares (3.41 %). The merger, effective 1 July 2022, eliminated Aviva Investors Poland TFI S.A. as a separate voting entity; consequently, its shares are now incorporated into the total count for Allianz Polska S.A. The notice confirms that no dependent entities or individuals possess shares or voting rights in the company, and no additional financial instruments influence the vote count. The total number of votes attributable to the funds is therefore 206,773, equating to 8.69 % of all votes at the meeting. The statement is issued by Allianz Polska S.A., with reference to regulatory requirements under Polish public offering and securities law, and is directed to the supervisory authority.

investment mergers-acquisitions

11 bit studios

Report

Raport bieżący nr 18/2024Ujawnienie opóźnionej informacji poufnej w sprawie rozpoczęcia przez PCF Group S.A. negocjacji w przedmiocie zawarcia umowy produkcyjno-wydawniczej z Krafton Inc.

PCF Group S.A. has officially disclosed the commencement of negotiations regarding a production and publishing agreement with Krafton Inc., a Seoul-based publisher. This disclosure follows the formal execution of a Master Services Agreement on September 10, 2024. The company had previously delayed the announcement of these negotiations, which began on July 11, 2024, to protect its legitimate business interests and prevent potential interference from competitors during the sensitive negotiation phase. The partnership centers on the development of a new game mode for an existing Krafton title, utilizing a work-for-hire model. This collaboration aligns with the strategic objectives outlined by PCF Group in early 2023, which prioritize securing high-quality work-for-hire opportunities with reputable industry partners. The agreement is structured as a framework, with specific operational details, project timelines, and compensation terms to be defined in subsequent statements of work. Management justified the initial delay in public disclosure by citing the uncertainty of the negotiation outcomes and the risk that premature release could lead to market misinterpretation of the company’s valuation. Throughout the delay period, the company maintained strict confidentiality protocols, including the maintenance of an insider list as required by regulatory standards. The disclosure confirms that the terms of the agreement are consistent with standard industry practices for similar development projects.

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PCF Group

Report

Annual Report 2024: Savvy Games Group

Savvy Games Group has established itself as a premier global force in interactive entertainment, currently ranking eighth worldwide by net revenue. The organization serves as the primary vehicle for Saudi Arabia’s National Gaming and Esports Strategy, which seeks to generate $13.3 billion in GDP contribution and create 39,000 jobs by 2030. By integrating publishing, development, and esports community building, the group effectively navigates the challenges of a saturated global market, positioning the Kingdom as a central hub for the international gaming industry. The company’s operational success is underpinned by a robust capital deployment strategy, with over $12 billion invested across nine major acquisitions since 2021. Under the leadership of CEO Brian Ward, the group has scaled to nearly 4,000 employees across 22 countries, supported by a governance structure that includes specialized committees for investment, risk, and executive oversight. This organizational framework ensures that the group maintains strategic alignment while pursuing aggressive growth in both domestic and international markets. Key business units, specifically Scopely and the ESL FACEIT Group, have delivered record-breaking financial results and solidified the company’s market dominance. The ESL FACEIT Group currently commands a 40% share of the global esports market, engaging over 225 million users through high-profile events like the inaugural Esports World Cup. Simultaneously, internal development efforts through Steer Studios and strategic partnerships with firms like Niantic and Xsolla continue to diversify the portfolio. These collective efforts demonstrate a commitment to scaling interactive entertainment through high-engagement competitive platforms and localized talent development, ensuring long-term sustainability within the global gaming ecosystem.

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Savvy Games Group

Report

Universal Registration Document: 2021/2022

Société anonyme governed by a Board of Directors with share capital of €86,321,932 Registered office: 396/466 rue de la Voyette, CRT 2, 59273 Fretin, France Registration number: 852 538 461 RCS Lille Métropole UNIVERSAL REGISTRATION DOCUMENT Including the 2021/22 annual financial report This universal registration document (URD) was filed on 22 June 2022 with the Autorité des Marchés Financiers (“AMF”) as the competent authority in respect of regulation (EU) 2017/1129, without prior approval in ...

investment mergers-acquisitions game-publishing+2

Nacon

Report

Raport Bieżący Nr 12/2021: Ujawnienie opóźnionej informacji poufnej o utworzeniu spółki zależnej

The report discloses a delayed confidential disclosure concerning the creation of a subsidiary, People Can Fly Chicago, LLC (PCF Chicago), under PCF Group S.A. The disclosure follows the acquisition of the Phosphor Games development team on 23 April 2021. The subsidiary was formed under Delaware law on 6 April 2021, as part of a letter‑of‑intent transaction with Phosphor Studios and Phosphor Games, intended to facilitate the acquisition of the development team. The report explains that the creation of PCF Chicago does not guarantee the successful acquisition of the team, and that the subsidiary’s establishment was an intermediate step in a broader strategy. The delay in public disclosure, justified under Article 17(4) of the EU Market Abuse Regulation (MAR), was deemed necessary to protect the company’s legitimate interests. The board argued that premature release could have exposed ongoing negotiations, potentially harming deal terms and the company’s market value. Confidentiality was maintained through a monitored list of individuals with access, in compliance with Article 18 MAR. Upon publication, the company will notify the Polish Financial Supervision Authority of the delay and its justification. The document covers a single corporate action within Poland’s PCF Group, involving entities in the United States and Delaware. It is a regulatory filing dated 23 April 2021, reflecting the company’s compliance with EU market‑abuse rules and its strategic acquisition activities in the gaming sector.

mergers-acquisitions investment europe

PCF Group

Report

Current Report No. 11/2023: Disclosure of Delayed Inside Information

The report discloses that PCF Group S.A.’s board initiated negotiations on 19 March 2023 with Krafton, Inc. or its affiliated entity to acquire shares in a capital increase approved by an extraordinary general meeting on 28 February 2023. The proposed investment would grant Krafton a 10 % stake in the post‑issuance capital, and may include future collaboration on specific games. The board delayed public disclosure until 28 March to avoid adverse impacts on negotiation dynamics and potential market misinterpretation, citing MAR Regulation Article 17(4) and EU‑FCA guidance. The disclosure explains that the negotiations do not guarantee a completed transaction, and outlines risk factors such as uncertainty of deal completion and market reaction. The document is restricted to qualified investors within the EU‑EAA, UK, and certain US entities under Regulation S or Rule 144A; it contains no prospectus and is not a public offer. Methodologically, the report relies on internal board decisions and regulatory compliance checks; no external survey or statistical data are presented. The scope is limited to Poland, with implications for capital structure and potential strategic partnership in the gaming sector. The report concludes that any investment decisions must be based on independent research, as the information is not a recommendation or solicitation.

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PCF Group

Report

Raport Bieżący nr 51/2023: Wstrzymanie Negocjacji Umowy Produkcyjnej

The report informs stakeholders that the production agreement negotiations for the virtual‑reality action/combat game code‑named “Dolphin” have been indefinitely suspended. The PCF Group S.A., headquartered in Warsaw, had previously entered a non‑binding letter of intent with a prominent U.S. entertainment company on 17 June 2023 to develop the game for VR platforms. On 22 September 2023, the publisher notified the company that work on the project would be halted permanently. Informal discussions suggest the decision is linked to ongoing industry strikes in the United States, creating uncertainty within the entertainment sector. Consequently, all negotiations regarding the production agreement have been put on hold. The report covers a single geographic region—Poland and the United States—and focuses exclusively on the video‑game development segment, specifically virtual reality action titles. No survey or statistical methodology is employed; the information is based on direct communication between company representatives and the publisher. The primary conclusion is that external labor disputes have disrupted the partnership, leading to a suspension of contractual negotiations and project development.

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PCF Group

Report

Powiadomienie o transakcji: Grzegorz Miechowski (04.04.2023)

The notification reports a transaction involving Grzegorz Miechowski, who holds the position of board member at 11 bit studios S.A. The filing is made under Article 19(1) of the MAR regulation, indicating a primary notification for a sale transaction. The issuer and market participant is 11 bit studios S.A., identified by LEI 259400KHTY4904KMKT70. The transaction concerns ordinary bearer shares of the issuer, classified as instrument PL11BTS00015. The sale was executed on 4 April 2023 at the Warsaw Stock Exchange (XWAR) in the equities market. A total of 2 000 shares were sold at a price of 635 PLN each, resulting in a gross transaction value of 1 270 000 PLN. The notification provides both detailed and aggregate information: the instrument description, transaction type (sale), price, volume, total volume, and transaction date. No additional transactions or changes are reported in this filing. The scope of the notification is limited to a single transaction on a specific date and venue, covering only ordinary shares of 11 bit studios S.A. The data are presented in compliance with MAR requirements, ensuring transparency for market participants and regulators regarding the sale by a senior executive.

mergers-acquisitions investment

11 bit studios

Report

2009 Annual Report

C o r p o r a t e P h i l o s o p h y To spread happiness across the globe by providing unforgettable experiences This philosophy represents our company’s mission and the beliefs for which we stand. Each of our customers has his or her own definition of happiness. Square Enix Group provides high-quality content, services, and products to help those customers create their own wonderful, unforgettable experiences, thereby allowing them to discover a happiness all their own.

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Square Enix

Report

Current Report No. 15/2021: Investment Agreement and Share Acquisition

PCF Group S.A. completed a strategic acquisition of Game On Creative, Inc., a Montreal‑based animation and audio studio that supplies high‑end cinematics for major gaming titles, including the recent Outriders release. The transaction, finalized on 27 April 2021, involved a trust and its beneficiary Samuel Girardin. PCF paid PLN 29 369 385,59 for 100 % of Game On’s equity, with a potential earn‑out of 5 % of EBITDA for the fiscal years 2021‑2025 if predefined thresholds are surpassed. To secure the purchase price, PCF agreed to issue 387 714 Series D ordinary bearer shares—approximately 1.29 % of its capital—at PLN 75,75 each in a private placement exclusively offered to the seller. The Series D shares are subject to a lock‑up covering 85 % of the issue, with staggered release dates through April 2023 and December 2024. A conditional call option from Sebastian Wojciechowski allows the seller to reacquire shares at the issue price if the capital increase is not registered on time, with a 30 % pre‑payment provision before lock‑up expiry. The agreement includes standard representations, warranties, and a pledge covering roughly 30 % of the Series D shares to secure potential claims. Non‑competition clauses bind both seller and beneficiary, while Samuel Girardin will assume leadership roles within People Can Fly Canada, Inc., reinforcing PCF’s AAA development capabilities. The deal aligns with PCF’s strategy to enhance animation and audio production for simultaneous multi‑project development.

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PCF Group

Report

Raport Bieżący Nr 44/2025: Zawarcie Warunkowego Porozumienia ze Spółką Square Enix Limited

PCF Group S.A. has entered into a conditional agreement with Square Enix Limited to finalize the financial settlement of the Gemini project and formally terminate existing development and publishing partnerships. This agreement marks the conclusion of two long-standing collaborations, specifically the 2020 production-publishing contract for the Gemini project and the 2016 agreement concerning the Madness project. As part of this settlement, both parties have agreed to waive all potential claims arising from their previous professional relationship. The effectiveness of this agreement is subject to a specific condition precedent involving the transfer of technical assets. PCF Group is required to deliver a comprehensive closing kit containing all development materials related to the Gemini project within 30 days of the agreement date. Square Enix Limited then has a subsequent 30-day window to verify and accept these materials. Should the publisher fail to respond or formally reject the contents of the closing kit, the agreement will expire, and the stipulated legal consequences, including the termination of the contracts and the waiver of claims, will not take effect. This development represents a strategic shift in the operational relationship between the Warsaw-based developer and the London-based publisher. By resolving these outstanding project obligations, the parties aim to clear the path for future independence or alternative partnerships. The company intends to provide further updates as the verification process for the closing kit progresses and the final status of the agreement is confirmed.

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PCF Group

Report

Annual Report 2019: Shaping the Future of Entertainment

Corporate responsibility and sustainability priorities are covered in MTG’s Annual Corporate Responsibility Report, published 19 S EGMENTAL PERFORMANCE 31 Other Group Information 34 Financial Policies and Risk Management 36 Governance and Responsibilities 41 Internal Control Report 101 ALTERNATIVE PERFORMANCE It’s impossible to reflect on 2019 without first commenting on the split of MTG into two companies in March – Nordic Enter- tainment and new MTG.

esports mergers-acquisitions market-analysis+1

Modern Times Group

2016 Annual Report

Annual Report and Consolidated Financial Statements: 2020

Raport Bieżący Nr 15/2024: Ogłoszenie Decyzji o Rozpoczęciu Przeglądu Opcji Strategicznych

Current Report No. 23/2023: Investment Agreement Supplement Between Krafton, Inc. and PCF Group S.A.

Integrated Report 2018

Komunikat o przekroczeniu progu udziału w głosach: 11 bit studios SA

Raport bieżący nr 18/2024Ujawnienie opóźnionej informacji poufnej w sprawie rozpoczęcia przez PCF Group S.A. negocjacji w przedmiocie zawarcia umowy produkcyjno-wydawniczej z Krafton Inc.

Annual Report and Consolidated Financial Statements 2022

Annual Report 2024: Savvy Games Group

Universal Registration Document: 2021/2022

Integrated Report 2025

Raport Bieżący Nr 12/2021: Ujawnienie opóźnionej informacji poufnej o utworzeniu spółki zależnej

Current Report No. 11/2023: Disclosure of Delayed Inside Information

Raport Bieżący nr 51/2023: Wstrzymanie Negocjacji Umowy Produkcyjnej

Powiadomienie o transakcji: Grzegorz Miechowski (04.04.2023)

Annual Report and Consolidated Financial Statements: 2021

2009 Annual Report

Current Report No. 15/2021: Investment Agreement and Share Acquisition

Raport Bieżący Nr 44/2025: Zawarcie Warunkowego Porozumienia ze Spółką Square Enix Limited

Annual Report 2019: Shaping the Future of Entertainment

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