And it’s the people that bought Gamigo.
Wizard 101 and Pirates 101developer KingsIsle has a new owner and it is the same company that owns Gamigo. Media and Games Invest announced this past week that they have entered an agreement to acquire 100% interest in the game developer for the sum of $126 million USD plus up to $86 million in potential payouts to sellers depending on future revenues.
The Transaction is transformative for MGI as it is expected to materially increase the size and profitability. Given the stable revenues and high EBITDA margin that the successful game Wizard101 generates, it will further strengthen the quality of earnings in the digital games segment.
Notably absent from MGI’s praise of success is Pirates 101. Pirates 101 currently sits in a state of maintenance mode.
Source: Press Release via MassivelyOP
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