Starbreeze AB further extends its PAYDAY 2 collaboration with Digital Bros for an additional 24-month period; Digital Bros to acquire 2.67% of Starbreeze stock from Varvtre AB

23 March 2015 / / Announcements,Corporate News,Products,Regulatory Releases

Starbreeze AB, one of Sweden’s leading independent game developers, today announced the extension to the original agreement with 505 Games, a Digital Bros subsidiary, to cover an additional 24 months starting April 1, 2015. The agreement covers the further development of PAYDAY 2 and its expansions on PC and next-gen consoles.

[icon color=”Extra-Color-1″ size=”tiny” image=”fa-file-text-o”] Download the pressrelease: 2015-03-23 Starbreeze AB extends collaboration with DigitalBros

The agreement gives Starbreeze a non-recoupable funding of 13,4 MUSD over the period; with an additional recoupable royalty of 1,4 MUSD for further development of PAYDAY 2: Crimewave Edition.  The new agreement supersedes the previously communicated on December 18, 2013. In addition, the exclusive publishing rights under the original agreement remains unchanged but have been extended for an additional 10 years until 2032.

In addition the board has been informed that Digital Bros has agreed to acquire from Varvtre AB a total of 3,872,722 Starbreeze AB common shares for USD 5 million in three steps during 2015, equal to 2,67% of the company.

“We’ve said that we’ll never stop making PAYDAY and the board is extremely happy to see where the franchise is today. The strategic partnership with 505 Games continues to strengthen us and the PAYDAY investment alone doubles down on our previous spend. We will yet again see the PAYDAY franchise being expanded with more heists, weapons, characters and even new game modes such as driving cars. PAYDAY as a franchise is here to stay and with it we are building a solid financial foundation for the company for years to come.” – said Michael Hjorth, Chairman of Starbreeze AB in regards to the extended PAYDAY 2 agreement. Commenting on the Varvtre shares acquisition by Digital Bros Bo Andersson Klint, CEO of Starbreeze AB said – “With this investment I feel Digital Bros proves their long term belief in Starbreeze and in its brands. As the largest owner, it’s very reassuring to get another strong partner to support our future success.”

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For more information please contact:

Starbreeze Press Contact: Almir Listo, Global Brand Director, Starbreeze AB. Tel: +46(0)8-209 208, email: press@starbreeze.com

Starbreeze Investor Relations Contact: Maeva Sponbergs, Investor Relations, Starbreeze AB. Tel: +46(0)8-209 208, email: ir@starbreeze.com

Brief information about Starbreeze:

Starbreeze is an independent creator, publisher and distributor of high quality entertainment products, headquartered in Stockholm, Sweden. At Starbreeze we create games by our own design and through licensed content, establishing franchises that can live and prosper outside the game itself. We live and die by gameplay. 

Starbreeze is pioneering digital self-publishing, currently hosting one of the largest community groups on the digital distribution platform Steam. Starbreeze’s most recent products include PAYDAY 2, our adrenaline fuelled bank robbing co-op game and the critically acclaimed Brothers – A Tale of Two Sons. 

Starbreeze AB is publicly traded on Nasdaq Stockholm First North Premier under the ticker STAR and the ISIN code: SE0005992831. Remium Nordic is the company Certified Adviser. Starbreeze brands include OVERKILL Software and the PAYDAY series. 

For more information, please visit http://www.test.starbreeze.com

 

Brief information about Digital Bros: 

Listed on the STAR segment of the Italian Stock Exchange, the Digital Bros Group is a global company active since 1989 in game entertainment, developing, publishing and distributing worldwide entertainment content – videogames – through the different available channels:  mobile and social, digital-web, retail. 

The Digital Bros Group is today active worldwide, through its offices in Italy, the United States, Great Britain, France, Spain, and Germany, with roughly 250 employees.

The Headquarters of the Group is in Milan, from where all activities are coordinated. The structure works on the 3 main markets of development, publishing and distribution, through the brands 505 Games, 505 Mobile and Halifax.

For more information: http://www.digitalbros.com

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