Frontier
Developments buy
Video games developer Frontier Developments has acquired Complex Games, which owns Warhammer 40,000: Chaos Gate - Daemonhunters. The two companies had already worked together.
This gives Frontier Developments a base in Manitoba, Canada. The deal will provide access to additional skilled developers. The maximum upfront and deferred payments are up to £11.6m. The deferred element of up to £3.3m will be based on performance measures during 2023. Frontier Developments had £53.1m in the bank at the end of August 2022.
Warhammer: Age of Sigmar has already been developed by Frontier Developments.
CentralNic beating expectations
Third quarter trading figures from CentralNic sparked a further upgrade for the online marketing and internet domains supplier. Zeus has increased its 2022 pre-tax forecast from $57.8m to $68.7m. A new $250m debt facility has been secured and this could finance further acquisitions.
The interest rate on the new facility will be lower than on the bonds currently that were in issue. Net debt is expected to be lower than previous forecasts at $47.6m. There could be net cash by the end of 2023.
So far this year, organic growth has been 66%, which is up from 62% at the half-way stage. The current forecast assumes that the rate of growth slows in the fourth quarter.
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