Business
Acquisition of Versus Evil and Red Cerberus
Acquisition of Versus Evil and Red Cerberus.
About this update from Tinybuild Inc.
[{"type":"text","content":"\n \n \n \n RNS Number : 2461T\n tinyBuild, Inc.\n 23 November 2021\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO OR FOR THE ACCOUNT OR BENEFIT OF US PERSONS, AS DEFINED IN REGULATION S PROMULGATED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE \"US SECURITIES ACT\"), OR IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n 23 November 2021\n \n \n \n \n \n tinyBuild, Inc \n \n \n \n \n \n (\"tinyBuild\" or the \"Company\")\n \n \n \n \n \n Acquisition of Versus Evil and Red Cerberus\n \n \n tinyBuild, a leading video games publisher and developer with global operations, is pleased to announce the acquisition of US-based Versus Evil, the video game publisher of critically acclaimed titles such as The Banner Saga, and its subsidiary Red Cerberus, its games service provider located in Sao Paolo, Brazil.\n \n \n \n \n \n Versus Evil will continue to operate as an independent label expanding tinyBuild's publishing capacity and contributing to its IP discovery process in new genres such as RPG and strategy. Founded in 2013 by Steve Escalante, who will continue to run the operations, Versus Evil has published 32 titles on all major platforms, which will bring tinyBuild's portfolio to over 70 titles. Since 2017, Red Cerberus has been providing Versus Evil and third-party studios with quality assurance, testing and localization.\n \n \n \n \n \n The initial consideration for acquiring Versus Evil and Red Cerberus will be $12.5 million in cash. Deferred payments over the following three calendar years will be settled with newly issued tinyBuild shares of up to $18.8 million[1], subject to stretching financial targets being met. The total maximum consideration is up to $31.3 million.\n \n \n ...