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Animoca Brands completes acquisition of Football-Stars creator Stryking

Stryking holds an official license from the Bundesliga, the top-tier German football league, for the right to use club logos and player pictures.

Animoca Brands Corporation Ltd - Animoca Brands completes acquisition of Football-Stars creator Stryking
The acquisition of Stryking is complementary to Animoca and its portfolio

Animoca Brands Corporation Ltd (ASX:AB1) has completed the acquisition of 100% of the equity of Stryking Entertainment GmbH for a consideration of about €1 million paid in Animoca shares.

Stryking is a Germany-based creator of the popular fantasy sports game Football-Stars.

The game developer holds an official license from the Bundesliga, the top-tier German football league, for the right to use club logos and player pictures.

Deals with major international sports brands

Football-Stars is a game that aligns strongly with Animoca’s own blockchain and NFT (non-fungible token) strategy, with an upcoming game update that will offer NFTs based on real football players and clubs.

Importantly, the acquisition adds to Animoca’s licencing arrangements with major international sports brands, which also include Formula 1® and Major League Baseball.

Earn-out payments

Animoca will pay earn-out payments totalling a maximum of €2 million (about  $3.15 million) for the acquisition, payable in cash or shares, at its discretion, subject to conditions including:

  • That Stryking being profitable and cashflow positive; and
  • €1.2 million net revenues per post audit per period for two periods to be eligible.

Strategic rationale

The acquisition of Stryking is highly complementary to Animoca and its portfolio.

Stryking has a highly experienced management team of serial entrepreneurs in the fields of games and finance.

Dirk Weyel, the founder and CEO of Stryking, has 20 years of experience in the games industry.

Hong Thieu, the CFO of Stryking, is a serial entrepreneur and investor with 20 years of experience in corporate finance, investor relations, public relations, and compliance at listed companies.

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