Bublar Group has completed the acquisition of Plotagon Production AB (Plotagon). The non-cash issue for the fixed purchase price has now been completed and Bublar issues shares to the parent company Plotagon AB for a consideration that is all shares in the subsidiary.
As previously announced, the fixed purchase price is approximately SEK 15.3 million (Fixed Purchase Price 1) and is paid in the form of 5,645,131 shares in Bublar based on the 20-day volume-weighted average price (VWAP) before the contract date of SEK 2.71,027 per share. The non-cash issue is made on the basis of the authorization from the Annual General Meeting on April 2, 2020.
An additional fixed purchase price and an additional purchase price may be paid out later, provided that certain terms of the contract are fulfilled. For details of the terms and conditions see press release regarding the acquisition from November 26, 2020.
Plotagon runs a proven platform and app that allows anyone to create and share their own 3D animated movies with a few taps on their phone or computer. Plotagon has recently entered a multiannual agreement with the South Korean online company Naver Z, which operates the ZEPETO app service with approximately 180 million users worldwide. ZEPETO is a social network app where users can create avatar content, play games and socialize with other users virtually.
Bublar Group acquires Plotagon primarily for the strategically and commercially interesting collaboration with Naver Z and ZEPETO where the parties are now developing a new app with a scalable revenue model towards a large volume of existing end users. Through the acquisition of Plotagon, Bublar will also get access to a well-functioning technology platform that will be introduced to additional major brands in film, TV and games that want to give their fan-base the opportunity to create and share animated films based on their characters.
“We are pleased that the acquisition has now been formally completed and that Plotagon's team will be part of Bublar. Now we have full focus on the development of the new app to be launched this year where we use Plotagon's technology and ZEPETOS content which allows users to easily create their own movies with their avatars. We also see a strategic potential in the collaboration with a large Asian network for our upcoming mobile game launches,” says Magnus Granqvist, co-founder of Bublar and Managing Director for its game division.
For more information, please contact:
Magnus Granqvist, Managing Director Virtual Brains,
email: email@example.com, Phone: +46 (0)733 311 776
Bublar Group AB (publ) is the Nordic region’s leading listed company specializing in XR technology and visualization. The company develops products and solutions based on advanced technology; Augmented Reality (AR), Virtual Reality (VR), VFX production, Cinematics, Performance capture & scanning, Digital Humans and Real Time animation.
The Group has world-leading companies as customers in TV, film, streaming, manufacturing industries and e-commerce. The company comprises the subsidiaries Goodbye Kansas (Incl. Infinite Entertainment), Sayduck, Virtual Brains and Vobling. Bublar is headquartered in Stockholm and has offices in Helsinki, Manila, London and Los Angeles. The company is listed on the Nasdaq First North Growth Market.
The company has G&W Fondkommission as Certified Adviser, Kungsgatan 3, Stockholm, Stockholm, email: firstname.lastname@example.org, phone: +46 8 503 000 50.