KKR To Invest in Epic Games

KKR

trategic investment partners include KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners

CARY, N.C.–(BUSINESS WIRE)–Epic Games is pleased to announce it has received an investment of approximately $1.25 billion from KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners.

This investment creates powerful partnerships with highly strategic investment firms and individuals at the forefront of technology, entertainment, professional sports, esports, and live events.

These investors join Tencent, Disney and Endeavor as minority shareholders in Epic, which continues to be controlled by founder and CEO, Tim Sweeney.

“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities. This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world,” said Sweeney.

“Epic Games has fundamentally changed the model for interactive entertainment under the company’s visionary leadership,” said Ted Oberwager of KKR. “Alongside a special group of investors, we are thrilled to support Epic’s dedicated employees and the passionate community of players and developers that lies at the heart of everything that Epic Games does.”

The Raine Group and Guggenheim Securities, LLC are acting as financial advisors to Epic Games. Smith Anderson is acting as legal advisor to Epic Games.

About Epic Games

Founded in 1991, Epic Games is the creator of Fortnite, Unreal, Gears of War, Shadow Complex, and the Infinity Blade series of games. Epic’s Unreal Engine technology brings high-fidelity, interactive experiences to PC, console, mobile, AR, VR and the Web. Unreal Engine is freely available at unrealengine.com. For more information, visit epicgames.com and check out @EpicGames.

Contacts
Epic Games
Dana Cowley
Dana.Cowley@epicgames.com

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Eurazeo announces the sale of Asmodee after a succesful transformation

Eurazeo

Paris, October 23, 2018 – Eurazeo announced today the effective sale to PAI Partners of its investment in Asmodee, a leading international games publisher and distributor.

This deal perfectly reflects the in-depth transformation successfully completed in recent years by Stéphane Carville and his teams with Eurazeo’s support. In four years, Asmodee’s revenue has grown from €125 million to €442 million, representing an average annual growth rate of 37%, and is now generated 75% internationally. At the same time, publishing revenues increased to nearly two-thirds of games sales. The Group also completed 20 acquisitions, representing over €140 million in revenue.
The deal generating sales proceeds of €565 million for Eurazeo and its investor partners, including €426 million for Eurazeo, i.e., a return on the initial investment of nearly 4x and an Internal Rate of Return (IRR) of almost 35%.
***
About Eurazeo
o With a diversified portfolio of more than €17 billion in assets under management, including over €11 billion from third parties, Eurazeo is a leading global investment company with offices in Paris, Luxembourg, New York, Shanghai and Sao Paulo. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The firm covers most private equity segments through its five investment divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands – and through three Idinvest business divisions: Venture Capital, Private Debt and Dedicated Portfolio & Funds. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. As a global long-term shareholder, the firm offers deep sector expertise, a gateway to global markets, and a stable foothold for transformational growth to the companies it supports.

o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

EURAZEO CONTACTS PRESS CONTACT

CAROLINE COHEN
HEAD OF INVESTOR RELATIONS
E-mail: ccohen@eurazeo.com
Tel: +33 (0)1 44 15 16 76
VIRGINIE CHRISTNACHT
DIRECTOR OF COMMUNICATIONS
E-mail: vchristnacht@eurazeo.com
Tel: +33 1 44 15 76 44
HAVAS PARIS
Deborah Guedj
E-mail: deborah.guedj@havas.com
Tel: +33 (0)6 26 74 95 96
For more information, please visit the Group’s website: www.eurazeo.com
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Pai Partners enters exclusive discussions to acquire Asmodee Group

PAI Partners

Asmodee Group is a leading international games publisher and distributor with operations located in Europe, North America, and China. Asmodee’s best known titles, either published or distributed on behalf of key publishing partners, include Catan, Ticket to Ride, Splendor, Dobble/Spot it!, Star Wars: X-Wing, 7 Wonders and Jungle Speed. In some European countries, Asmodee also distributes trading card games such as Pokemon, Magic, Yu-Gi-Oh! Asmodee realised a turnover of 442 million in 2017, 75% of which was made outside France, its home market.

PAI intends to support the current management team in its plans to grow the business further through international expansion both organically and by acquisition.

The acquisition of Asmodee would be the first investment made by PAI Europe VII, which reached a successful final close at €5.1 billion in March 2018 after less than six months of active marketing.

Stéphane Carville, CEO of Asmodee Group, commented: “We would like to thank Eurazeo for their support over the last few years, during which we have grown to become one of the leading players in the games publishing and distribution space. We have been very impressed by the PAI team, their operational approach as well as their knowledge of the consumer goods industry globally, and we very much look forward to continuing our ascent in partnership with them.”

Gaëlle d’Engremont, Partner at PAI Partners, commented: “Asmodee represents a unique opportunity to invest in a fast-growing platform within the gaming industry, as part of PAI’s strategy to invest in attractive consumer goods industries. Stéphane and his team have an unparalleled track record in driving profitable growth both organically and through acquisitions, and we are delighted that they have chosen to partner with us. We are excited by the company’s growth prospects, which include further developing Asmodee’s position in the core hobby gaming market and successfully diversifying the group’s main brands onto other platforms. We look forward to working together to deliver on our ambitious objectives.”

The relevant employee works councils of Asmodee will be consulted in respect of the transaction and completion of the transaction will be subject to regulatory approval and other customary conditions precedent.

Media contacts

PAI Partners
Greenbrook Communications: Matthieu Roussellier / James Madsen
Tel.: +44 20 7952 2000

Asmodee Group
CICommunication : Marion Felix / Catherine Isnard
Tel +33 (0)1 47 23 90 48 –
Email: cicom@cicommunication.com

About PAI Partners

PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI manages €12.3 billion of dedicated buyout funds. Since 1994, the company has completed 68 transactions in 11 countries, representing €50 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector-based organisation. PAI Partners provide the companies they own with the financial and strategic support required to pursue their development and enhance strategic value creation.
www.paipartners.com

About Asmodee Group

Asmodee Group is a leading international games publisher and distributor with operations located in Europe, North America and China. Asmodee’s best known titles, either published or distributed on behalf of key publishing partners, include Catan, Ticket to Ride, Pandemic, Dead of Winter, Splendor, Dobble/Spot it!, Star Wars: X-Wing, 7 Wonders, Dixit, Takenoko, Abyss, Timeline, Jungle Speed and The Werewolves of Miller’s Hollow. In some European countries, Asmodee also distributes trading card games such as Pokémon and Magic. Asmodee has headquarters in Guyancourt, France.
Learn more at corporate.asmodee.com.

 

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KKR to Invest $400 Million in AppLovin

KKR

Investment will fuel company’s growth as it continues to scale its global mobile game discovery business

PALO ALTO, Calif.–(BUSINESS WIRE)– AppLovin announced today it has agreed to terms on a $400 million investment from KKR, a leading global investment firm. The partnership with KKR will accelerate AppLovin’s goal of giving app developers of all sizes the ability to finance, market, and grow their businesses.

Founded in 2012, AppLovin started as a leader in the mobile gaming user acquisition and monetization space and has expanded to offer a single, comprehensive platform that gives developers the ability to connect with consumers around the globe. In 2018, the company launched its own mobile gaming division, Lion Studios, which has already published multiple chart-topping games. The company is headquartered in Palo Alto with offices in San Francisco, New York, Dublin, Beijing, Tokyo, Seoul, and Berlin.

With accelerating revenue growth and profitability, AppLovin is a critical growth engine for mobile game developers around the world, helping to support fresh ideas and increase the healthy competition that drives game development innovation and a robust global gaming economy. To do so, the company reaches over 300 million daily active users and drives over one billion installs for gaming companies annually. Close to 90% of the top mobile gaming companies from around the world work with AppLovin. The company is well positioned for continued growth, with mobile gaming projected to be a $70.3 billion industry in 2018, growing over 25% year-over-year according to Global Games Market Report.

“We’re honored to be partnering with KKR, one of the best investment firms in the world,” said Adam Foroughi, CEO and co-founder of AppLovin. “This investment will further fuel the growth of our product and our investment in Lion Studios. KKR’s expertise will be invaluable as we continue to scale our company globally and help more app developers meet and exceed their business goals.”

“AppLovin is a robust, market leading platform in the high-growth mobile gaming market,” said Herald Chen, Member and Head of Technology, Media and Telecom at KKR. “We are excited to be backing the company and partnering with Adam Foroughi, an excellent entrepreneur, strategist and operator, and we look forward to supporting the expansion of its global mobile gaming platform through continued investment in AppLovin’s best-in-class products and services.”

KKR is making the investment primarily from its KKR Americas XII Fund.

Bank of America Merrill Lynch is serving as exclusive financial advisor to AppLovin and The Raine Group is serving as exclusive financial advisor to KKR on the transaction. Fenwick & West is serving as legal advisor to AppLovin and Wilson Sonsini Goodrich & Rosati is serving as legal advisor to KKR.

About AppLovin

AppLovin offers a comprehensive platform where app developers of all sizes can connect with their ideal consumers and get discovered. Founded in 2012, the company is focused on helping both indie and established mobile game developers grow with the expertise and insights they need to finance, market, and expand their businesses—all in one place. App developers view AppLovin as a trusted partner, the rare company that understands what it takes to succeed in the mobile app ecosystem and has the ability to help them reach their goals. Learn more at www.applovin.com.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

AppLovin
Katie Jansen, 415-710-5305
press@applovin.com
or
KKR
Kristi Huller or Cara Major, 212-750-8300
media@kkr.com

Source: AppLovin

 

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