The holding will buy back 100% of the shares of Innova Intellectual Property at an aggregate price of approximately 110 million euros. The deal will be completed by the end of the first quarter of 2023. It is part of EG7’s long-term strategy to expand its position in the industry and should give the company access to Asian markets.
Some time ago, the concern has already bought out the companies Daybreak Game Company, Big blue bubble and Piranha Games… Now about 200 employees in offices in Luxembourg and Russia are moving under his wing, as well as intellectual property in the form of Lineage 2, Ragnarök Online, Point blank and other games.
In a press release, it is noted that for the 12-month period ending December 31, 2023, Innova had net sales of approximately € 33.3 million. The profit amounted to about 13.6 million euros. Innova will continue its publishing activities, but will now report to Enad Global 7.
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