Leaf Cellular has confirmed the acquisition of East Aspect Video games for CAD $159 million (USD $125 million).
The deal consists of an preliminary cost of $19 million in money and greater than 444 million shares of Leaf Cellular inventory, which till now has been traded on the TSX Enterprise Alternate.
The remaining worth of the deal is tied to Leaf Cellular’s income targets for the years ending February 5, 2022 and February 5, 2023.
Leaf Cellular additionally introduced that, following the acquisition, it’s going to begin buying and selling on the Toronto Inventory Alternate — efficient from the markets opening on February 10, 2021.
East Aspect Video games will proceed to function underneath the identical identify as an entirely owned subsidiary of Leaf Cellular. Each firms are based mostly in Vancouver, Canada.
As soon as the deal is finalised, East Aspect Video games chief product officer Jason Bailey will function chief income officer for Leaf Cellular. Bailey will even be part of Leaf’s board of administrators.
“By amalgamating our property and expertise with Leaf Cellular, we develop into considered one of, if not the main, publicly traded cell recreation firm in Canada,” Bailey stated in an announcement.
“Now, along with Leaf, we glance to supercharge our recreation progress and safe new IP licenses, whereas including bench expertise and diversifying our profitable recreation portfolio.”
Darcy Taylor, CEO of Leaf, added that the corporate will “[continue] so as to add top-tier, like-minded studios to the Leaf Cellular household shifting forward.”
East Aspect Video games was based in 2011, and has constructed its enterprise by means of narrative-driven idle video games based mostly on TV licenses — Archer: Hazard Cellphone, The Goldbergs: Again to the 80s, It is At all times Sunny: The Gang Goes Cellular, and Trailer Park Boys Grea$y Cash amongst them.
Leaf Cellular is thought for cell video games based mostly on “counter tradition” themes — particularly the Bud Farm sequence, which is predicated on the legalised marijuana commerce.
GamesIndustry.biz will publish a full interview with Leaf CEO Darcy Taylor this week.