Gaming Realms plc
("Gaming Realms", the "Company" or the "Group")
Strategic Partnership for Digital Marketing Agency
Gaming 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.
For 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.
As 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.
As 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.
Patrick 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 will also share in the upside of an already successful multinational digital agency, while removing various fixed costs from our business."
Ayima has been recognised as one of the fastest growing tech companies in the UK and Europe by The Sunday Times Tech Track 100, and one of the largest independent digital agencies by Econsultancy.
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Contacts:
Gaming Realms Patrick Southon, CEO Mark Segal, FD |
+44 (0) 845 123 3773 |
Cenkos Securities (Nomad and Broker) Max Hartley (Nomad) Julian Morse (Broker) |
+44 (0) 20 7397 8900 |
Yellow Jersey PR Charles Goodwin Aidan Stanley |
+44 (0) 7747 788 221 +44 (0) 7584 085 670 |
About Gaming Realms
Gaming Realms creates and publishes innovative real money and social games for mobile, with operations in the UK and U.S. Through its market leading mobile platform and unique IP and brands, Gaming Realms is bringing together media, entertainment and gaming assets in new game formats. The Gaming Realms management team includes accomplished entrepreneurs and growth executives from a wide range of leading gaming and media companies.
