Media & Games Invest, the parent company of gamigo, now owns a chunk of Enad Global 7, the parent company of Daybreak Game Company. Confused yet?
As first spotted by MMO Fallout, MGI bought about seven million shares of EG7, accounting for roughly 8% of its total outstanding shares. That puts it in the #2 position among shareholders, behind Georgy Chumburidze, who owns 10.38% of the shares.
According to the press describing the transaction, the exact number of shares purchased was 7,126,190, and MGI currently views EG7 as being "undervalued." That's no doubt due to its tumbling stock price over the past year, which led to CEO Robin Flodin being ousted. However, the company has a lot on its plate going forward, including the promise of a Marvel MMORPG from Daybreak, which was psuedo-announced in the company's last financial statement.
8% of shares is not, of course, enough for MGI to make significant policy decisions regarding EG7's business operations, but it could be an important "foot in the door" if it has intentions of doing further business with the company. Both companies have been very aggressive with their acquisitions over the past year, and if EG7 ever decides to part ways with some of its underperforming sectors, MGI would be a prime candidate to take those off of EG7's hands.
In other gamigo news, its "mystery MMO" has more "information" on its website. In addition to a fourth video, there's now also a simple word puzzle under the heading of "A Clue." I won't spoil the answer for you, which should take about 15 seconds to decipher, but hey, at least it's not another six-minute video with a very slow-moving eclipse.
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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