Completion of Sale of Games to
Maple Media for up to A$3.6m in cash
Animoca Brands Corporation Limited (ASX: AB1) (the Company or Animoca Brands) is pleased to announce that it has completed the sale of 13 games (the Sale) to Maple Media LLC. (Maple Media). Details of the sale were first provided in the Company’s ASX announcement on 31 July 2017.
Animoca Brands has successfully completed the sale of 13 games to Maple Media for up to A$3.6m in cash
The Company will receive of ~A$1.4m as partial consideration of the Sale in August 2017
Further deferred payments of up to a maximum of ~A$2.2m, payable in 2018 and 2019, subject to revenue hurdles
Animoca Brands retains an option to sell an additional two apps to Maple Media
The Sale is a positive outcome resulting from the Company’s recent focus on leveraging its portfolio of valuable intellectual property, while also managing its cost base and cash flows effectively. The Sale demonstrates the Company’s ability to successfully monetise its intellectual property without incurring additional development and marketing costs. The 13 games sold comprise the non-core components of the Company’s TicBits subsidiary. Animoca remains focused on developing mid-core/hard-core games such as Crazy Kings, while the titles sold include casual gaming titles such as Sudoku and Mahjong; titles that represent a better strategic fit for Maple Media.
About Animoca Brands
Animoca Brands (ASX: AB1) publishes globally a broad portfolio of mobile games and subscription products including several games and e-books based on popular intellectual properties such as Garfield, Thomas & Friends™, Ever After High and Doraemon. The Company's games have been downloaded over 280m times. Animoca Brands is based in Hong Kong. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook, Twitter or Google +.
About Maple Media LLC
Maple Media is a Los Angeles based mobile media, advertising and technology company that acquires, manages, and operates mobile application focused on the utility, productivity, games and entertainment verticals. Maple Media is backed by leading private equity firm Shamrock Capital. Maple Media is led by industry veterans Michael Ritter, formerly the SVP of Business & Corporate Development of Jam City, and Clark Landry, founder of multiple adtech companies and active angel investor in over 90 companies.