Gamigo Fully Acquired By Principal Shareholder, Media and Games Invest

Increased shares from 53% to 98% last month

By Joseph Bradford on March 10, 2020 | News | 0

It seems gamigo, the German MMO company currently working on the ArcheAge series, was bought out by one of its shareholders last month. First reported by MassivelyOP, in a press release from February it was announced that Median And Games Invest increased its shares in gamigo from 53% to 98% - effectively taking over the German MMO company.

Yesterday, a press release confirmed this, stating that the acquisition of gamigo AG was "successfully completed." In that release, it shares that MGI's shares were at 99%, giving it essentially total control over gamigo.

In a statement on the press release, CEO Remco Westemann - who is both CEO of gamigo AG and MGI - siad the following:

"With the complete acquisition of gamigo, MGI's participation in gamigo's rapidly growing profitability will almost double. The very advantageous conditions create additional value for each MGI share from day one. And last but not least, the integration will enable us to fully leverage the synergies between the companies in our group. We will simplify our structure and be able to operate even more efficiently."

It's an interesting turn as gamigo was most known for acquiring Trion back in 2018, and now they have, in turn, been acquired by another company. An interesting part of this comes down to the valuation of gamigo AG, with the press release stating that the company was acquired for "only around 50 percent of the valuation of comparable companies."