Embracer Group Mergers and Acquisitions Presentation Deck
KOCH MEDIA ACQUIRES VERTIGO GAMES
The deal
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100% of the shares acquired
Upfront Consideration: €50M (€40M cash and €10M
shares), implying an "upfront EV” of €45M, adjusting for
€5M acquired net cash
Earnout package: A mix of operational and financial targets
spanning up to 10 years, capped at €65M (€25M cash and
€40M shares)
Two of several components of the earnout package
stipulates selling mgmt to stay employed for up to 10 years
One of several components of the earnout package
stipulates that the sellers receive below consideration
depending on its EBIT performance between 1 July 2020
and 31 March 2026, and the schedule looks as follows:
EBIT (1 Jul 2020-31 Mar 2026) Cash Shares Total
≥ 100
15
≥ 95
≥ 90
≥ 85
12.5
10
7.5
10
10
10
20
10 17.5
25
22.5
Key financials (estimates)
€ million
Net sales
Operational EBIT
Jan 2020- Apr 2021
Dec 2020-Mar 2022
10-12
6-8
18-24
11-17
EMBRACER
GROUP
Beyond
Mar 2022
Stable
sales and
profit
growth
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