Rightbridge acquire the mobile gaming studio Raketspel Innovativa Produkter AB
2024-10-29 Rightbridge Ventures Group AB “Rightbridge” has entered into a share purchase agreement regarding the acquisition of Raketspel Innovativa Produkter AB “Raketspel”. The purchase price is 79 000 000 SEK and will be divided into three sections. 15 million sek in newly issued shares at a 0,06 share price 19,5 million sek loan convertible note with a maturity of three years and a debt exchange of 44,5 million sek from Safe Lane Gaming. The transaction is conditioned upon the bank approving the debt exchange from Safe Lane Gaming to Rightbridge Ventures Group
Raketspel is a Swedish gaming studio with over 20 years history in the gaming space, the studio has had tremendous success within the mobile gaming space with the games like “Dig this” and “Castle Raid”. The studio continues to develop new games and has amassed over 175 million downloads across its portfolio. The acquisition aims to strengthen Rightbridge's position in the mobile gaming sector by leveraging Raketspel’s proven track record in developing cost-effective, high-retention games within the Hyper Casual and Casual genres.
Strategic Rationale The acquisition of Raketspel aligns with Rightbridge’s strategy of expanding its gaming portfolio and increasing its presence in the fast-growing gaming industry. Raketspel’s partnership with world-leading mobile game publishers such as Voodoo and Homa, further enhances its potential for future game releases and monetization opportunities. By integrating Raketspel’s talent and resources, Rightbridge intends to accelerate its ability to deliver high-quality gaming experiences and tap into the rapidly evolving Hybrid-Casual gaming trend.
“We are thrilled to welcome Raketspel to the Rightbridge family,” says Mads Jörgensen, Chairman of Rightbridge. “Their expertise in the mobile gaming industry, combined with their creative talent and successful game portfolio, will be a great addition to our group. We believe this acquisition will open up new opportunities for growth and innovation, enabling us to further strengthen our position in the gaming market and utilize internal synergies within the group .”
Transaction Structure: The total purchase price of 79,000,000 SEK will be divided into the following components:
- 15 million SEK in newly issued shares at a 0.06 SEK share price. 75% of the shares will be subject to a lockup for a period of 6 months.
- 19,5 million SEK loan convertible note with a three-year maturity, paid in cash or in share conversion where board of Rightbridge decides based on market conditions
- 44,5 million SEK debt exchange with Safe Lane Gaming.
- The acquisition is conditioned upon the current lender approving the debt exchange from Safe Lane Gaming to Rightbridge Ventures Group.
Next Steps Following the completion of the acquisition, Raketspel will continue to operate under its current brand, maintaining its creative independence and development autonomy. Rightbridge will support Raketspel’s ongoing projects while exploring synergies across its broader gaming portfolio. The transaction is expected to close by the end of november, subject to customary closing conditions, due diligence and approvals.
For further information contact:
Claes Kalborg, CEO Rightbridge Ventures Group, phone +46 73 444 55 07
Email: [email protected]
Mads Jorgensen, Chairman of the board
Phone: +45 28 97 15 75
Mail: [email protected]
About Rightbridge
RightBridge Ventures is a compounder and investment company based in Stockholm (Sweden) dedicated to investing in companies that shape the future of esports and gaming as part of the digital media and entertainment industry. For more information visit www.rightbridge.se or get updates by following us on LinkedIn.
RightBridge Ventures Group AB (publ)'s shares are traded on the Nasdaq First North Growth Market and the company's certified adviser is Corpura Fondkommission AB.
PUBLIC DISCLOSURE
This information is such information that RightBridge Ventures Group AB (publ) is obliged to disclose according to the EU's Market Abuse Regulation. The information was provided, through the above contact person's agency, for publication on 2024-10-29 07.45.
