19 May 2014
Frontier Developments plc
Signs Extension to Publisher Development Agreement
Frontier Developments plc (AIM: FDEV; "Frontier," the "Company"), a leading developer of video games with studios in Cambridge, UK and Halifax, Canada, has signed an agreement to undertake additional work under an existing development agreement with a leading games publisher.
The contract amendment has a value of $1.75m, bringing the total contract value to $5.67m. The additional amount will be earned and recognized over development milestones spanning Frontier's current and next financial year, which ends 31 May 2015.
David Braben, Chief Executive of Frontier Developments, said:
"Working with strategic publishing partners forms an important part of our plan for the Company's continued development. This contract amendment has added significance as it extends our previously fruitful relationship with this partner."
Enquiries:
Frontier Developments |
+44 (0)1223 394 300 |
David Braben, CEO |
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David Walsh, COO Neil Armstrong, CFO |
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Canaccord Genuity |
+44 (0) 207 523 8000 |
Simon Bridges/Cameron Duncan |
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finnCap Ltd |
+44 (0) 20 7220 0500 |
Malar Velaigam |
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Instinctif Partners |
+44 (0) 20 7457 2020 |
Kay Larsen/Adrian Duffield |
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About Frontier Developments plc
Frontier Developments plc, listed on the AIM stock market (ticker: FDEV), is a leading independent game developer founded in 1994 by David Braben, co-author of the seminal 'Elite' game. Based in Cambridge, UK and Halifax, Nova Scotia, Canada, Frontier uses its proprietary 'Cobra' game development technology to create innovative games across videogame consoles, computers, smartphones and tablets.
As of 30 April 2014, Frontier had raised £2.7 million via Kickstarter, the crowd funding website, and its own site to develop Elite: Dangerous. The studio is also working on a number of other titles, and released 'Zoo Tycoon' as a launch title for Microsoft's Xbox One console in 2013.
