EG7 Acquires Daybreak.
As you all know that the Holiday Season is just around the corner and everyone is on a shopping spree may it be adults, kids, or gaming corporations.
Yes, you read that right, EG7 continued its holiday shopping and its correct; EG7 Acquires Daybreak Games. Daybreak is famous for EverQuest, H1Z1, and other various multiplayer games.
Now, let’s get into the details here; Daybreak got sold at $300 million which was paid in terms of newly issued shares of EG7 and cash. This is the second purchase at that too in weeks, the holiday shopping spree for EG7 started with Piranha Games, a Vancouver based gaming studio.
Moreover, EG 7 also made it clear that Daybreak’s main shareholder Jason Epstein will get to hold 10% of EG7 shares after the closure of the deal.
Robin Flodin, the CEO, and co-founder of EG-7 had a say about the acquisition, “Daybreak is a perfect fit for EG7, we are a family of companies with complementary skills and expertise, combined to form a major video games business to deliver amazing games and experiences to gamers around the world.
“Daybreak has a rich portfolio of owned and third-party IP’s and we look forward to adding to that portfolio of games in the years to come.”
EG 7 is yet to respond about Daybreak employees, whether they would get laid off or stay as is in the future. Daybreak was known as Sony Online Entertainment under the banner of parent company Sony, later on, a split from the parent company resulted in Daybreak.
The company has a formidable stack of successful games like EverQuest, EverQuest 2, H1Z1, DC Universe Online, and Planetside 2. Moreover, in MMOs, it has to its name The Lord of the Rings Online and Dungeons and Dragons Online.