Game industry veteran, Marc De Mesel is to leave the company he helped found, Gamigo AG. The move signals a strategic shift from providing gaming services to turning itself into an investor in full-service online game operators like Daybreak Game Company (DGC), which it just acquired for €100 million ($123 million).
Gamigo’s parent company just became a key investor in Daybreak’s parent company. The investment is the first step in Gamigo, which has been struggling financially for some time now, looking to expand its portfolio and increase its revenues.
I didn’t mean it should really purchase Daybreak when I joked on the previous Massively OP Podcast that Gamigo was becoming Daybreak. But that’s exactly what’s going on. Gamigo’s parent business, Media and Games Invest Group also MGI, revealed this morning that it has purchased 8% of Enad Global 7 or EG7, which owns Daybreak and is now run by Daybreak’s CEO, Ji Ham, as first reported by MMO Fallout. MGI EG7 is now the second-largest shareholder, according to MMO Fallout.
According to the news release, MGI believes EG7 is presently cheap, and this 8% investment represents a “strategic minority position.” If it’s undervalued, it’s most likely due to MGI’s stock drop earlier this year, which was sparked by a peculiar Swedish interview that alarmed investors and prompted the MGI board to fire its CEO and replace him with Ji Ham. Recent developments have also harmed the stock market as a whole.
MGI and EG7 have, of course, been making headlines in recent weeks: MGI and Gamigo just lost the ArcheAge license, promised 2022 RIFT content, canned Skydome, and teased a new game rumored to be Fractured, while EG7 and Daybreak quietly announced a Marvel MMO, DC Universe Online expansion, and Lord of the Rings Online console port, while MGI and Gamigo just lost the ArcheAge license, promised 2022 RIFT content, canned Skydome, and teased a new game rum Your sole goal now is to avoid mixing up these two Swedish MMO firms with three-letter acronyms. Best of luck!
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Daybreak Game Company is the owner of some of the most popular games in the world. Gamigo’s parent company just became a key investor in Daybreak’s parent company. Reference: eg7 just survive.
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