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EG7 acquires Daybreak

As for whether the acquisition would result in layoffs for any Daybreak employees, an EG7 representative did not immediately respond.

Enad Global 7 AB (publ) (EG7) acquired US-based developer Daybreak Game Company for a consideration of USD 300 million in cash and newly issued shares in EG7. The deal is for 100 percent of Daybreak, which is a leading game development company located in San Diego, CA, with additional offices in Austin, TX and Needham, MA. With the acquisition EG7’s proforma financials for the period Jan-Sep 2020, including the recent acquisitions of Big Blue Bubble and Piranha Games, will amount to SEK 1,322 million revenue and SEK 411 million EBITDA.

Daybreak’s main owner Jason Epstein will hold approximately 10 percent and the additional current shareholders of Daybreak will together hold approximately 3 percent of the total number of outstanding shares and votes in EG7. EG7’s Board of Directors also intends to carry out a share issue of up to SEK 1,600 million directed to Swedish and international institutional investors through an accelerated bookbuilding procedure conducted by Carnegie and Swedbank.

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