Gameforge Purchases Controlling Stake in Frogster, Offers to Purchase Remaining Outstanding Shares

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Gameforge, a German company that primarily publishes free-to-play and casual titles, has acquired a majority stake in game publisher Frogster (responsible for games such as The Chronicles of Spellborn and Runes of Magic) and plans to acquire the remainder of the company. Read on for more details:
Gameforge already owned 23.2% of Frogster's outstanding shares, and just concluded an acquisition of another 36.8% of Frogster's stock from a coalition of shareholders for €25 per share. Today, Gameforge announced an offer to acquire the remaining 40% of Frogster's outstanding stock at the same price. Frogster notes that around 15% of the company's stock is in the hands of Frogster's management, with 25% of the company's stock currently in the hands of investors. Gameforge now controls the Frogster, so it should quickly be able to consolidate its power.

Gameforge states that by purchasing Frogster the company will "strengthen our presence in the online gaming market even further." Clearly, this is an effort by Frogster to grasp at even more of the online gaming space.

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This page contains a single entry by Editor published on August 3, 2010 8:27 PM.

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