Swedish holding EG7 acquires developers H1Z1 and PlanetSide for $300 million

Swedish Enad Global 7 makes another major purchase. The company announced the takeover of Daybreak Games, the studio behind the creation of EverQuest, H1Z1 and PlanetSide. The transaction amount is $300 million.

According to EG7 in its press release, the deal will close no later than December 31, 2020. After that, at least three of the four studios that are part of Daybreak will be transferred to the holding. We are talking about Dimensional Ink Games (DC Universe Online support), Darkpaw Games (development of the EverQuest series) and Rogue Planet Games (development of games in the PlanetSide line). The fate of the recently acquired Cold Iron Studios, working on a game in the Alien universe, is not specified in the document.

According to EG7 CEO and co-founder Robin Flodin, the new purchase will help the Swedish company strengthen its position in the industry.

The takeover will take place in two stages:

• by the end of 2020, EG7 will transfer $160 million in cash and another $100 million in its own shares;
• The holding will pay the remaining $40 million in cash after the publication of Daybreak’s financial results for 2020.

Also note that as a result of the transaction, the current owner of Daybreak, Jason Epstein, will own approximately 10% of EG7 shares.

EG7 has been actively increasing its portfolio of game developers recently. At the end of August, the company bought the Big Blue Bubble studio, known for the My Singing Monsters mobile franchise. And just a week ago, the holding began the takeover of Piranha Games — the authors of the Mechwarrior simulator series.

Also on the topic:

• The authors of H1Z1 bought Cold Iron StudiosDaybreak Games has divided its IP between three new studios
• Embracer Group acquired 13 companies, 6 of them went to Saber Interactive
• Is there any news?