Business
Strategic Partnership for Digital Marketing Agency
Strategic Partnership for Digital Marketing Agency.
About this update from Gaming Realms Plc
[{"type":"text","content":"\n \nRNS Number : 3383A Gaming Realms PLC 06 June 2016 \n\nGaming Realms plc\n \n(\"Gaming Realms\", the \"Company\" or the \"Group\")\n \nStrategic Partnership for Digital Marketing Agency \n \n \nGaming Realms, the creator and publisher of mobile real money and social games, today announces that it has entered into a strategic partnership with digital marketing company Ayima Limited (\"Ayima\"). Under the terms of the partnership, Gaming Realms has agreed to contribute assets comprising its external digital marketing agency (the \"Assets\") to Ayima. The Assets include certain clients and the Facebook traffic buying team from QuickThink Media Limited (\"QTM\"), a subsidiary of Gaming Realms. The strategic partnership will see Ayima provide its marketing services to Gaming Realms, with a focus on promoting games on the Group's proprietary platform.\n \nFor the financial year ended 31 December 2015, losses attributable to the Assets were approximately £0.02 million and were valued at approximately £0.4m as per the Company's balance sheet at this date. \n \nAs consideration for the disposal of the Assets, Gaming Realms has been issued with shares in Ayima equal to 10% of the enlarged issued share capital of Ayima (the \"Consideration Shares\"). The Consideration Shares will be held on the balance sheet of Gaming Realms and have been valued by the Company at approximately £540,000.\n \nAs previously announced, the Company has refocused its strategy on developing and publishing its own business to consumer properties for real money and social gaming. This follows the significant success in 2015 of the Company's \"Grizzly\" proprietary platform powering real money Slingo games and derivatives. The transaction with Ayima and the recent disposal of legacy third party platform websites in February 2016 are firmly aligned with the Company's strategy. \n \nPatrick Southon, CEO of Gaming Realms, commented: \"Gaming Realms has been working closely with Ayima for several years. This partnership is a perfect fit as both companies will immediately benefit from an enlarged marketing capability. Gaming Realms' marketing team will greatly benefit from Ayima's deep and broad capability in digital acquisition, while continuing to leverage QTM's Facebook buying team as before. We w...