EG7 Acquired Innova In February, Has "10+ Undisclosed Projects" In The Works
Enad Global 7 is still scooping up game companies. Late last year, the Swedish publisher nabbed MechWarrior developer Piranha Games, as well as Daybreak Game Company, and just over a month ago, it acquired Russian publisher Innova, operator of the 4game platform that publishes EU/CIS versions of Lineage 2, Ragnarok Online, and RF Online.
Massively Opinionated noticed the sale, which went down on February 25. The investor presentation contains a lot of details, including labeling Daybreak as "An IP-portfolio consisting of world-class brands" -- one of which is apparently H1Z1, which was not mentioned at all in the acquisition report; the unannounced Marvel game is not mentioned this time around.
Innova accounted for 340 million Swedish krona (SEK) in revenue in 2020, or about $39 million USD. Overall, the recent acquisitions account for more than triple the revenue that EG7 brought in during 2019 and, with the addition of Petrol Games and Sold Out in 2019, the current pro-forma revenue of the company is a whopping 27 times what its revenue was in 2018.
And EG7 likely isn't done yet. The presentation touts that the "M&A (mergers and acquisitions) pipeline is stronger than ever," so don't be surprised if we see more news about the company throughout the year. In the video presentation accompanying the announcement, CEO Robin Flodin called 2020 a "transformative year for the company." With the new acquisitions and the promise of "10+ undisclosed projects" and "5+ remastered" titles in development, 2021 might wind up looking the same.
Other relevant topics discussed in the Q&A portion of the video presentation:
Q: "Are you planning to expand the Daybreak team?" Flodin responded with "Yes," and said that they've already begun hiring.
Q: "It seems like Daybreak was struggling a bit a couple of years ago. What happened, and has the company fully overcome these issues?" Flodin referenced H1Z1's "ups and downs" and commented on the company "lacking resources" while saying that there's "a lot to do both on communication and within the teams, and we're hoping to bring that to the teams, and to the gamers some things that might have been lacking."
Q: What about fans waiting for a "rebirth" of H1Z1? Flodin said that they have to "look into the technical requirements." After that self-examination, then EG7 might engage the fans, "being honest" to find out exactly what they want and determine if such a revival is "worth it."
Q: What about the complete integration of Piranha Games? Flodin couldn't give a date on that, due to approvals required by the Canadian government.
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
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