{"id":423,"date":"2023-10-12T07:00:00","date_gmt":"2023-10-12T05:00:00","guid":{"rendered":"http:\/\/localhost\/fragbite\/mfn_news\/invitation-to-press-conference-regarding-the-acquisition-of-fall-damage\/"},"modified":"2023-10-12T07:00:00","modified_gmt":"2023-10-12T05:00:00","slug":"invitation-to-press-conference-regarding-the-acquisition-of-fall-damage","status":"publish","type":"mfn_news","link":"https:\/\/fragbitegroup.com\/en\/press\/invitation-to-press-conference-regarding-the-acquisition-of-fall-damage\/","title":{"rendered":"Invitation to press conference regarding the acquisition of Fall Damage"},"content":{"rendered":"
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Fragbite Group AB (publ) ("Fragbite Group") will hold a press conference on October 12 at 10.00 CEST regarding the acquisition of game development studio Fall Damage. The press conference will be held via live webcast and followed by a Q&A session.<\/strong><\/p>\n<\/div>\n

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Fragbite Group is holding a press conference on October 12 at 10.00 CEST to present the acquisition of Fall Damage. Marcus Teilman, Fragbite Group President and CEO will together with Anders Gyllenberg, CEO of Fall Damage, present the acquisition via live webcast. The webcast will be held in English and followed by a Q&A session. The webcast and submission form for questions can be accessed via the following link: https:\/\/ir.financialhearings.com\/fragbite-group-press-release-2023<\/a><\/p>\n

\u201cThe acquisition is optimal for Fragbite Group as it enables considerable synergies, where both Fall Damage's excellence and the game ALARA Prime lay the foundation for several parallel revenue streams over time. During a period of exclusivity we already engaged with our global network, and are thus in an advanced position to negotiate a publishing deal,<\/em>\u201d says Marcus Teilman, President and CEO.<\/p>\n

\u201cThe transaction structure provides both seller and buyer with strong incentives to give Fragbite Group opportunities over time to grow significantly faster than the market and achieve substantial profitability. Fall Damage is just as passionate as we are about developing truly great games and building long-term value based on that, and I look forward to starting the integration of the new Fragbite Group,\u201d <\/em>Marcus Teilman continues.<\/em><\/p>\n

Fall Damage is a Swedish game development studio whose founders have long had prominent roles in the Swedish gaming industry, including at DICE. In 2024, Fall Damage is releasing ALARA Prime, a tactical First Person Shooter game that, after extensive successful playtesting, is expected to attract a significant player base on the global FPS market. More than SEK 180 million has been invested in the game to date, and the title is expected to give Fragbite Group an accelerated growth rate.<\/p>\n

\u201cWe have an extremely dedicated and professional team that now gets the opportunity to become part of a growing group, within which we can take on all the opportunities that the gaming market offers. On the basis of shared values and view of the future for Fall Damage, we have established a transaction structure that is beneficial to all parties and enables us to move forward with a new global publisher. Today is the start of an exciting journey for us together in Fragbite Group, where the first step consists of completing ALARA Prime and taking it to market,\u201d <\/em>says Anders Gyllenberg, CEO, Fall Damage.<\/em><\/p>\n

Acquisition terms<\/strong><\/p>\n